Rupee may fall to 65 by December, Sensex expected to surprise on the upside

MUMBAI: The gloom surrounding the Indian economy may deepen in the next three months with the rupee expected to weaken and inflation projected to stay high, an ET poll of top fund managers and brokers shows. The rupee may possibly touch 65 to the US dollar by December while inflation is expected to stay at elevated levels of 9% (retail) and 6% (wholesale). The US Federal Reserve could start slowing its bond purchases by the end of the year, a majority of participants said, and not September as is widely believed. The Sensex is expected to hold its current position and may even surprise on the upside, the poll reveals. Nearly 45% of the fund managers and brokers expect the rupee to trade between 62 and 65 to the dollar this...

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