The Indian rupee slipped in the early trade
on Monday. It has opened lower by 57 paise at 67.65 per dollar versus
67.08 Friday.
Credit Suisse says
that the RBI governor Raghuram Rajan's unexpected departure is negative for the
currency as it raises uncertainty over the new monetary policy framework and
managing potential volatility around events like FCNR redemption in Sep-Nov
2016. It expects the Indian currency to depreciate to 67.70 in three months and
71.0 in 12 months.
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