Below Is The View On Rupee Todya By Mr Salil Datar, CEO, Essel Finance VKC Forex Ltd
"With the recent inflation data being favourable, there has not been any material change in the Indian economy’s base parameters. The current drop in Rupee is mainly due to the crisis in Turkey. Dollar index has strengthened beyond 96 levels reflecting its safe haven status due to possible domino effect of the Turkey crisis on the other financial institutions. The rupee can see further dip till 70.25 levels on the other side , we could be seeing 69.60 levels if today’s favourable inflation data is backed by a moderation in the awaited trade deficit figures’, said Salil Datar,CEO & Executive Director, Essel Finance VKC Forex Ltd.