David Mann, Head, Asia Economic Research at Standard Chartered says as one more rate hike is approaching the hiking cycle, market is not giving the benefit of the doubt to the policy makers.
Forex experts blame the overall weak sentiment for the currency‘s decline. Agam Gupta, MD of FI trading at Standard Chartered Bank says that the rupee will continue to be weak if the sentiment does not improve and inflows start coming in.
French President Nicolas Sarkozy takes his campaign for greater global food price and currency stability to Washington next week when he seeks Barack Obama's support for France's goals as head of the Group of 20 powers.