There’s no stopping in the rupee slide. The Indian currency closed below 74-to-a-dollar for the first time on Monday, after opening nearly 20 paise weaker from Friday’s close of 73.77 per dollar.
International Monetary Fund (IMF) has cut global growth forecast for 2018 to 3.7 from 3.9. It has also cut growth forecast for US and China for next year.
The possible calculation of traders is that the yields have risen enough and now as global growth slows, there will be no further need to raise interest rates.
CNBC-TV18’s Latha Venkatesh explains about what to expect today and how could rising yields impact other emerging market (EM) currencies.