Sunday, November 4, 2018

UBS : Oil to touch Rs 80 and Rupee 76

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According to UBS, global crude prices will remain at elevated level, the rupee is likely to be under pressure, and may touch the 76 levels against the US currency over the next three months.

 The domestic currency has already crossed the 74 mark owing to continued strengthening of the dollar, lack of foreign flows and higher crude oil prices. 

Assuming global crude prices stay elevated (slightly above USD 80/a barrel), they retain bearish view on the rupee and see it plumbing to 76 over the next three months.

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