Mumbai: The rupee is likely to be pegged around 50 to a US dollar in future, but for the short-to-mid term the domestic currency may trade lower due to the weak macroeconomic fundamentals, a top official of Yes Bank said here today. "The new order for the rupee probably looks like 50 to a dollar. You may have a situation where the rupee may fall to Rs 52-53 due to the prevailing uncertainty. But the new order judgmentally is 50," Yes Bank founder, managing director and chief executive Rana Kapoor told PTI in an interview. He also said the depreciation of the rupee was long overdue due to factors like high import bill and high inflation. "The rupee was overdue for a correction. We had around 10 per cent inflation for a year and for the two years our exports were under pressure. Also, our import requirements for fuel and non-fuel have gone up. So, it''s only but natural that the rupee goes through some sort of depreciation based on market principles," Kapoor said. He also said the central bank had done a good thing by not sterilising the currency and allowing it to move on demand-supply factors. The rupee, the worst-hit currency in Asia, has depreciated nearly 20 per cent from the July highs and touched a record low of 54.30 a dollar on December 15 on the back of capital outflows from the country coupled with demand for dollars by importers. The central banks recently came up with a slew of measures like reduction of forex exposure limit for traders and banks, raising the cap on ECBs and freeing interest rates on non-resident deposits among others to restrict volatility and check further depreciation.