- 02:14 PM Hold Shree Renuka Sugar: Gujral
- 02:09 PM Sensex rallies over 1.5% led by metals, IT, cap go...
- 02:02 PM Keep Rs 440 stoploss in NMDC: Gujral
- 01:52 PM Delta Corp has target of Rs 65: Irani
- 01:48 PM Ex-Bear Stearns hedge fund managers acquitted
- 01:44 PM Jyothy Laboratories a safe bet: Irani
- 12:58 PM Cyclone Phyan to bring heavy rains to Mumbai
- 12:54 PM Cipla launches drug to treat H1N1 virus
- 12:54 PM Shree Renuka acquires Brazilian firm for $82 m...
- 12:54 PM JPMorgan bullish on Educomp, target at Rs 1000



According to Sean Callow, Sr Currency Strategist, Westpac Banking Corp the rupee has actually performed quite well. “Overall, it has been very stable and I think that it’s an impressive performance, particularly given previous episodes of risk reversion,” he said.
Excerpts of CNBC-TV18’s exclusive interview with Sean Callow:
Q: What is the kind of reaction that you are seeing for the Central Bank intervention that we have seen across countries?
A: I think the key point to make there is that what they are really doing is just smoothing down the money markets and trying to make sure that the overnight rate, which is their target, is actually where it trades. That is what we see from ECBs, the Fed, RBI and Bank of Japan. So, that is the key that it is not by any means a prelude to an interest rate cut at this point.
Q: What about the yen, where do you see appreciation taking that currency to, before any retracement, 117 is where it is right now?
A: That is an interesting one because professional speculators, for a large part, have already unwound a lot of their yen positions in the fall from 123 or thereabouts, to 118. So, a lot of the yen buying has come in from the retail accounts. So, I think so long as it holds above the 117.20 recent low, which should be a start to stabilize near-term.
Q: What is your view on the Asian currencies and the rupee in particular?
A: Most of them are under pressure but I think the rupee is one that has actually performed quite well. Overall, it has been very stable and I think that it’s an impressive performance particularly given previous episodes of risk reversion. So, we are sticking with our view that the dollar-rupee is as lower as 40 in the end of September and 39.70 till year-end.
|
|


Today's Special Column
with Pronab Sen
Union Ministry of Statistics and Programme Implementation , Chief Statistician and Secretary


-
Most Read
-
Most Viewed
- 10 companies that MF managers love
- 10 Companies that FIIs love
- Mitesh Thacker's top picks for today's trade

- Experts on stocks and sectors to pick/avoid now

- Ganeshaspeaks: Market prediction for Nov 11
- IPO scam: SEBI bars Pyramid Saimira for 7 years

- How greed got the better of this Morgan Stanley star
- Sensex may drift down to 12500, -ve on RIL: Shankar Sharma

- Keep Rs 440 stoploss in NMDC: Gujral
Source: CNBC-TV18
- Delta Corp has target of Rs 65: Irani
Source: CNBC-TV18
- Jyothy Laboratories a safe bet: Irani
Source: CNBC-TV18
- JPMorgan bullish on Educomp, target at Rs 1000
Source: CNBC-TV18
- NMDC, AP body to enter mining pact
Source: Business Line
- Volvo-Eicher semi low-floor buses to hit the roads next yr
Source: Business Line
- Petronet likely to award LNG jetty contract next month
Source: Business Line
- NTPC units shut down on coal shortage
Source: Business Line





















