Rupee is continuing it's slide even after Tuesday's drop which wiped the currency's gain for the month of March where it was the outperforming currency in the region.
Trading around 73.5/$ mark, the rupee is at the lowest level since March 1. Traders see pressure on the currency as state owned banks look to buy dollars ahead of year closing.
Bloomberg reports that StanChart expects the rupee to further decline all the way to 76.5/$ by year end, which marks a drop over 4% from current levels.