A slowing domestic economy will prevent India’s rupee from recouping this year’s losses against the dollar in 2020, with optimism around an easing in the U.S.-China trade dispute not enough to give it a further boost, a Reuters poll showed. After falling nearly 9% in 2018, the Indian currency has shed another 4% this year to touch a 2019 trough of 72.40 per dollar on Sept 3. A barrage of rate cuts from the Reserve Bank of India this year – five reductions in succession for a total of 135 basis points off the repo rate, now at 5.15% – has done nothing concrete so far to revive a slowing Indian economy.
