Happy to see rupee depreciate, needs to weaken further: Mythili Bhusnurmath, ET NOW

In a chat with ET Now, Mythili Bhusnurmath, Consulting Editor at ET NOW, shares her views on the rupee. Excerpts:



ET Now: The currency is going past 65. What are you following this afternoon in terms of macro cues?

Mythili Bhusnurmath: I am happy to see the rupee weaken because our export performance has been dismal and somehow the Commerce Ministry’s pleas have fallen on deaf ears in the Finance Ministry. Globally exports are also doing badly across the world and global growth itself is slow. So I am quite happy to see the rupee depreciate. I think rupee needs to depreciate some more, more so since commodity prices overall are low, and this is an opportune moment for it to depreciate without impacting inflation.