Rupee to remain under pressure in near-term over external factors: Report

The rupee is expected to remain under pressure in near-term as the downside risks to the currency are largely driven by the external factors and will take some time to subside, says a report. 

According to Dun & Bradsteet's latest economy forecast, elevated crude oil prices, strengthening of dollar, geopolitical tensions and economic sanctions will continue to impart depreciation pressures on the rupee.

"Elevated risks and heightened geopolitical uncertainty, trade wars and economic sanctions along with reworking of trade treaties will continue to impact emerging market currencies, including India," Dun & Bradstreet India Lead Economist Arun Singh said in a research note. 

At this time of global uncertainty along with tightening dollar liquidity in the global market, measures to attract foreign investors to support the rupee might have limited impact, at least, in the short-term.