Baweja warns rupee could hit triple digits against US dollar
Business
The Indian rupee might drop to triple digits against the US dollar within the next 12 to 18 months, according to UBS chief strategist Bhanu Baweja.
This is mostly because US interest rates are climbing and oil prices are high, both making things tough for the rupee.
Baweja suggests RBI allow rupee weakening
Even though RBI is working hard to keep currency swings in check, India's exports are not growing as fast as some Asian neighbors.
Baweja suggests RBI could let the rupee weaken a bit more to help exports compete globally, saying they will likely use reserves just to smooth out big shocks.
Meanwhile, higher US bond yields and pricier oil are making India less attractive for foreign investors and pushing up living costs at home.