New Delhi, Dec. 20 -- Indian rupee has been under sustained pressure in recent weeks, sliding to record lows against the U.S. dollar and raising fresh concerns about whether the rupee has more downside left. However, in latest GREED & fear report, Chris Wood of Jefferies believes macro fundamentals argue that the worst of the weakness may already be behind.

"GREED & fear has to admit to a certain surprise over the extent of the currency's weakness. The hope is that this is the bottom as regards the rupee," said the report.

Wood noted that the Indian stock market has delivered its weakest relative performance in nearly three decades in 2025, reflecting both a cyclical earnings slowdown and a sharp depreciation in the rupee.

The Indian r...