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India Rupee Faces Further Losses After Series of Lows, StanChart Says

  • Trade deficit, outflows may push rupee to 82 per dollar
  • India’s trade deficit widened the most on record in June

The Indian rupee tested a series of record lows in recent weeks and Standard Chartered Plc. foresees more losses for the currency in the coming months.

“The main two factors that are building up that can weaken the rupee are mainly on the worsening trade and capital flow dynamics,” Parul Mittal Sinha, head of India financial markets, said in an interview with Bloomberg TV on Tuesday, adding that that was the outlook of the bank’s trading desk. She said the currency may extend its decline to as low as 82 per dollar over the next three months.