The Indian rupee could weaken to a record low of 98 against the U.S. dollar by July as the energy shock triggered by the Middle East crisis continues to pile pressure on domestic assets, especially the currency, a BofA Securities executive told Reuters.
The rupee, Asia's worst performing currency this year, has been battered by the war-led energy shock that threatens to slow growth and push up inflation in India, which imports almost 90% of its crude requirements and half of its gas needs.
