Rupee may hit 70/Dollar mark this week, say bankers
A delay in FPI inflows till, say December, may drive the rupee beyond 70 against the dollar and RBI may issue NRI bonds to arrest the fall, says a BofAML report
Mumbai: A strengthening US dollar, lack of foreign investment and concerns over rising crude oil prices are likely to keep the rupee under pressure this week and may push it past the 70/Dollar mark, say bankers. The Reserve Bank of India (RBI) will certainly not be comfortable with that expensive a rupee and would strongly defend the currency, they said. According to bankers, 69.30 remains a crucial level for the rupee.