RTRS Poll: China’s Yuan, Indian Rupee to weaken over coming year

A latest Reuters poll showed that the Chinese Yuan and Indian Rupee are expected to reverse course and weaken slightly versus the greenback over the coming 12 months, in the wake of further rate increases by the US central bank, the Fed.

Key Quotes via Reuters:

“The yuan is forecast to weaken to 7.05 per dollar in 12 months, according to the poll of over 50 foreign exchange analysts taken this week, even as market confusion reigns over China's plans to tweak the currency's midpoint calculation for a second time this year.“

“Separately, the Indian rupee INR is forecast to weaken to 66.00 per dollar over the next year, a more than 2 percent fall from where it was trading on Wednesday after gaining more than 5 percent so far this year.”