Published on Mon, Mar 29, 2010 at 21:00 | Source : CNBC-TV18
Updated at Tue, Mar 30, 2010 at 10:49
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Rupee at 18-month highs: Will the rally continue?
The rupee’s relentless rally continues. It ended the first day of the week at 44.97/98 per dollar, after hitting 44.95, earlier in the day. In an interview with CNBC-TV18, Forex Consultant AV Rajwade, gave his reading on the rupee appreciation and the expected actions from the RBI.
The rupee's relentless rally continues. It took off from where it left off on Friday and surged to a new 18-month high. On Friday it touched an 18-month high against the dollar, as the US currency came under selling pressure in both local and international markets.
It ended the first day of the week at 44.97/98 per dollar, after hitting 44.95, earlier in the day.
In an interview with CNBC-TV18, Forex Consultant AV Rajwade, gave his reading on the relentless appreciation of the rupee and the expected actions from the RBI.
Here is a verbatim transcript of the interview. Also watch the accompanying video.
Q: How long do you think this appreciation will continue, is this just a March 31 effect or you think you are going to see the rupee appreciation continue?
A: I certainly hope not. But I have started wondering whether the central bank is looking at the rupee appreciation to the tune of the inflation control measures. Inflation is a major issue right now. As they did in the first quarter of 2007-08 whether they are looking at rupee appreciation as a measure of controlling inflation, I personally would very much dislike it but that is what it looks like.
The rupee's relentless rally continues. It took off from where it left off on Friday and surged to a new 18-month high. On Friday it touched an 18-month high against the dollar, as the US currency came under selling pressure in both local and international markets.
