RBI to buy FX if rupee settles down at 62/USD: Sengupta

We welcome RBI's decision to conduct open market operations worth Rs 100 billion on October 7, says Indranil Sengupta, BofA ML.

October 01, 2013 / 08:58 IST

Indranil Sengupta, BofA ML said, "We grow more confident of our call that the current account deficit is peaking. The RBI will buy FX if the rupee settles down at 62/USD levels."

"RBI is likely to eventually ease restrictions on FII gilt investments to list rupee gilts in an EM bond index to raise FX reserves. We welcome RBI's decision to conduct open market operations worth Rs 100 billion on October 7," he added.

first published: Oct 1, 2013 08:58 am

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