Below is the Views On Rupee by Ms.Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking Ltd
The Indian rupee ended the week with marginal gains of 0.10 percent, wherein the volatility has remained high on the back of US Fed and BoE interest rate decisions. Tracking the decline in Dollar Index, long bets in the domestic unit have surged in line with the other Asian peers. As the US Fed looks inclined to continue with a low interest rate regime for several years to support the economic recovery path, dollar index has remained under pressure. On the other hand, the RBI also seems to have given a pause to its dollar buying spree to build its forex war chest, which has provided room for the local unit to edge higher. Going ahead, rupee has strong support at 74 mark, while 72.80 remains a stiff hurdle on the higher side. The Indo-China border tensions will keep the uncertainty alive for the rupee, while the trajectory of dollar index will also provide further cues.
Above views are of the author and not of the website kindly read disclaimer