Rupee could move towards Rs 70/$ in medium-term: Barclays

Discussing the impact of current global volatility and depreciation of yuan by a percent so far in 2016, Mitul Kotecha, Head-FX Strategy, Asia Pacific, Barclays says that recent fixing has made the Chinese currency more stable. In future, he expects dollar-yuan exchange rate may move higher. Koetcha expects the rupee to depreciate to Rs 68.50/USD by this quarter-end and adds that it will depreciate further to Rs 70 per dollar in the medium-term. Worries over falling commodity prices and Federal Reserve movements will impact currencies in the period ahead, he adds. Watch video for more.