RBI measures may prevent sharp fall in rupee: Sushil Fin
Sushil Finance has come out with its report on Indian Rupee. "Ease in geopolitical tensions and RBI measures to attract more inflows may prevent sharp fall in the Indian Rupee or even reversal may be seen," says the research firm.
September 26, 2013 / 12:12 IST
Sushil Finance's report on currency
The Indian Rupee appreciated by 0.47 percent in Yesterday's trading session and closed at 62.438 on the back of weakness in Dollar Index. Further, dollar selling by foreign banks and exporters supported currency to gain strength. Additionally, RBI measures to attract more Inflows and ease in Geopolitical tensions acted as positive factors for the Indian Rupee. However, a sharp gain was prevented as RBI increased the benchmark rates on Friday.Outlook: We expect Indian Rupee to trade on negative note on the back of strength in DX coupled with weak global market sentiments. Further, concerns over country' economic health, RBI decision to increase the benchmark rates along with month end demand for dollars from importers may act as a negative factors for the currency. Additionally, worries over possible US federal debt default may keep currency under pressure. However, ease in geopolitical tensions and RBI measures to attract more inflows may prevent sharp fall in the Indian Rupee or even reversal may be seen.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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