Will the Rupee hit 100? 3 critical triggers that could push India’s currency to historic lows by year-end

The month of April witnessed the currency trade between the 93 – 95/$ band against the US dollar. With the domestic currency now nearing the 96/$, markets are increasingly questioning whether the rupee could slip into the three-digit territory against the greenback. In just over a month, the domestic currency logged in both one of its single day best gains and steepest declines. Over the past year the currency has depreciated by more than 10%, and on a year-to-date basis it has weakened by nearly 5%. The prolonged West Asia crisis, leading to a sharp uptick in oil prices continues…