New lows in store for the rupee?

Investopedia/J.C. Parets/6-21-2018

“Over the past two months, the rupee has rallied against several of the most widely traded currencies in the world, including the U.S. dollar, euro, British pound, yen and Australian dollar. With that said, the rupee’s rally versus the U.S. dollar was short lived, and the pair is now back toward 2.5-year lows, suggesting that it remains vulnerable and that further weakness may be ahead.”

USAGOLD note:  A currency and a country often overlooked, any prolonged weakness in India’s rupee could trigger strong physical demand in the world’s largest market for gold annually.

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