Rupee & Yuan to weaken going forward

indiainfoline-Bitcoin (10049.12 Chinese Yuan) as against Dollar hit its all-time high levels recently, on the back of rigorous Japanese purchases. Bitcoin touched 1481.73.
 Bitcoin (10049.12 Chinese Yuan) as against Dollar hit its all-time high levels recently, on the back of rigorous Japanese purchases. Bitcoin touched 1481.73. Chinese regulator had initiated a crackdown on illegal transactions through its Bitcoin trading platform.
 
However, Yuan is just 0.7% so far, this year after it lost 7% in 2016, thanks to Donald Trump’s selection as the US President. Similarly, Indian Rupee is seen trading up at 64.14 as against Dollar, rising from near to 67 levels.
 
However, both talked off currencies Rupee and Yuan are expected to fall against Dollar over the year in the wake of interest rate hikes by the US. Nevertheless, the expectations of a fall have been trimmed.
 
The US is expected to hike interest rates twice during the year, though it may not hike the same in the ongoing policy review.
  Rupee may weaken to 66.23/Dollar i.e. more than 3% from its recent level. RBI may initiate a rate cut by the end of the year.

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