2 min read.Updated: 09 Jul 2013, 02:45 PM ISTRenu Kohli
Notwithstanding the currency’s steep fall, India can ride out this storm
Concerns over the rupee’s continuous slide against the dollar are understandable. Yet, broader perspectives must prevail in responding to the liquidity shock from reversing foreign capital. That will prevent panic attempts like asking banks to desist from rupee forecasts which make markets jittery, according to the central bank (Business Standard, 8 July). Assuming forecasts can actually be curbed, what about forward trades in overseas non-deliverable markets, where the rupee hit ₹ 61 on 6 July, after the US-jobs data release? Besides, market expectations are now quickly settling in an ₹ 62-65 range.
Recommended For You
Select your Category
Internet Not Available
Wait for it…
Log in to our website to save your bookmarks. It'll just take a moment.