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    HomeNewsBusinessMarketsRupee could hit 56 to the dollar: UBS

    Rupee could hit 56 to the dollar: UBS

    UBS says rupee could hit 56 to the dollar, which would mark a record low. UBS cites prospect of slowing flows on the back of India's "severe" deficit drag, the need to "repair" the country's balance sheet and regulatory ambiguity that has reached a "crisis point."

    April 26, 2012 / 17:56 IST

    UBS says rupee could hit 56 to the dollar, which would mark a record low. UBS cites prospect of slowing flows on the back of India's "severe" deficit drag, the need to "repair" the country's balance sheet and regulatory ambiguity that has reached a "crisis point."

    "In these conditions, there is very little policy easing. So companies and government must now become more efficient if they want to retain/induce that extra dollar from overseas," UBS' economist Philip Wyatt says in the report.

    first published: Apr 26, 2012 02:32 pm

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