Rupee seen weakening further

The rupee fell to a two-month low against the dollar on Tuesday, and is likely to weaken further, on renewed fears that the US Federal Reserve will soon end its $85-billion a month bond-buying programme and dollar purchases by dealers in anticipation of higher demand from oil companies. The good news, according to experts, is that the fall could be temporary—largely because the Reserve Bank of India (RBI) now has the ammunition to counter it.

Read Full Story>>