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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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.
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