According to the survey conducted by ING Vysya Bank, Indian Rupee is expected to weaken further against US dollar and is likely to breach the 58-level in near future.

RupeeWeakens

What is even more interesting is the fact that 15% of survey respondents feel rupee will be crossing 60-level. Hence, the expectation is that Rupee may get much worse soon.

According to a latest report by Barclays Capital, the Indian Rupee will likely be rebounding to around 52 levels in the next 6-8 months.

It is believed that if the Euro situation improves towards the beginning of 2013, Rupee might just appreciate.