New Delhi, May 15 -- The Indian rupee is likely to remain under pressure due to weakening capital inflows, rising import dependence, elevated crude oil prices and a widening current account deficit, Devendra Pant, Chief Economist at India Ratings and Research, told ANI on Friday.

"I will not say capital inflows have dried up, they have reduced significantly. There is an outflow from your portfolio investments. Now in this situation, whatever increase in your current account, that is not able to be funded by the capital inflows, and that is creating pressure on your currency," Pant told ANI.

Pant said India remains heavily dependent on imports of crude oil, edible oil, pulses and electronic goods, which continues to strain the country's ...