Barclays predicts the currency to gradually fall toward 84.40 per US dollar. — Reuters
MUMBAI: The Indian rupee, which fell past 84 to the US dollar to hit a new record low this month, is on a downward path as geopolitical risks boost oil prices and as money flows out of local stocks amid a shift toward China.
Barclays Plc points to record-high gold prices, a stronger US dollar, and increased risk aversion as reasons why the central bank may allow the rupee to decline.
