The rupee is expected to trade in 55.50 against the dollar for short-term and there may be retracement in the rupee in the near-term. However, the long-term challenges for the rupee remain, says Brijen Puri, head- markets, JP Morgan.
He expects the rupee to touch new lows in 6-to-9 months and does not rule out the rupee touching 60 against the dollar by the year-end.
"The current account deficit (CAD) continues to remain a major concern and the RBI will step in aggressively to stem the fall in the rupee,"
He expects the rupee to touch new lows in 6-to-9 months and does not rule out the rupee touching 60 against the dollar by the year-end.
"The current account deficit (CAD) continues to remain a major concern and the RBI will step in aggressively to stem the fall in the rupee,"
Posts
No comments:
Post a Comment