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Chat Transcript
25 Jul 2012 - 14:00hrs hrs
Abhishek Goenka | Founder & CEO
Rupee and cross currency movement
Chat Transcript
| sapna_1996: whats ur view for dollar for the next week? |
| Abhishek Goenka: Dollar is clearly in a uptrend, we expect it to be little volatile ahead of the FED policy meet on 31st July.Overall we are bullish on dollar index |
| annettea: hello sir, what are the changes that rupee will slip to 60 versus dollar? is it possible say in one year. thks |
| Abhishek Goenka: Hi, There are chances of rupee breaching 60 levels on account of global uncertainties and lack of active policy reforms from the central side. We have continuously been bearish on rupee and expect the same trend to continue for coming months as well. |
| sunilprakashkil: hi is rupee come doun to 54 level in 2 month |
| Abhishek Goenka: Rupee coming to 54 levels is difficult as of now, for that we need concrete reforms to get the investors attracted back to the nation. |
| rnp_111: sir, as the rupee is moving in a range, will it gain in coming month or will it again test it recent low? thank u sir. |
| Abhishek Goenka: hi, Yes rupee was seen trading range bound in last few sessions that was mainly on account of silence in the euro zone. The concern seems to be rising again making the rupee to tremble against the dollar. The Us treasury yield is coming down 1.38% and we expect it to come down around 1%. Looking at this scenario, we can see rupee again testing 57.33 levels. |
| balirams: As the euro slipped to two-year low against dollar, will rupee gain from hereon agianst dollar? |
| Abhishek Goenka: Euro declining against the dollar would not make the rupee to gain against the dollar. Euro getting weak means rupee will also weaken. As euro and rupee shares a positive correlation. (mst of the time) |
| sapna_1996: what are the levels ur expecting for next one week ? |
| Abhishek Goenka: As continuously said, we are bearish on rupee. The week ahead holds imp events like RBI, FED policy meet, we expect rupee to be volatile what ever dips will be seen would be a temporary one. As of now we target rupee towards 56.50 plus levels. |
