The Indian currency may gain significantly against the US dollar when India will reach a trade deal with the US. (Photographer: Pralhad Shinde/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The worst is over for the Indian rupee after the currency retained its position as the worst performer among major economies for the ongoing calendar year, Jefferies said in its India strategy note. The global brokerage sees it staying at around 90 per US dollar for the next 12 months.

The dollar index, which gauges the strength of the greenback against six major currencies, will likely be softer and stay below the 100-mark, according to Jefferies. This is a positive for the Indian unit.

India's current account deficit is estimated to be 0.5% of the GDP for financial yea

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