On Tuesday the rupee, stroked a six-week low of 47.385 viz a viz the dollar, which is being considered as its limpest level since June 7 ,2010, and is anticipated to stay under stress until there are sturdy recovery signs at the Western shores.

The rupee has slithered by 1.9% so far in this month and is amidst the list of awful performers in Asian currencies. The head of global markets, Hitendra Dave HSBC Bank expressed that it is better not be too bullish on the rupee at present. There are a multitude of global factors that are exerting stress on the rupee and he anticipates witnessing few structural faults during the short term. He further added that it might trade in an array of 46-48 for most of this quarter.

Further the Indusind Bank head-global markets Moses Harding expressed that the economic despair have now extended from the euro zone to the US.

The peril of double-dip recession is mounting confidence and might hurt emerging markets.

Harding also scrutinized that this might outcome in a stretch of the trade deficit due to the reduced exports and that there might be a noteworthy tumble in offshore gush into debt and equity capital souks as hot money investments are drawn out.