Though rupee found its feet in December, a host of risks — domestic and global — may keep it on the cliff and continue to puzzle market watchers by its indirection in 2019.
Macroeconomic data announced during the week as well the news of the Prime Minister’s impending meeting on Saturday have been positive for the markets.
Jaitley said that external factors such as policies adopted by the US, trade war and crude oil prices were impacting economies like India, despite “strong fundamentals”.
The rupee plumbed a new life-time low of 72.73 to a dollar, falling 28 paise Tuesday on strengthening American currency as crude prices went past the USD 78 a barrel mark.
Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies supported the rupee.