Dollar-rupee could break 45.50 in near-term: Anand Rathi

Kishore Narne, VP, Anand Rathi Commodities joins CNBC-TV18 to give his outlook on the market, now that the Indian rupee has touched a new high this month on a weakening dollar. He tells investors how to trade from here, especially because there was a bit of support expected at 44.70 - 44.90 for the dollar that has been breached.

Below is the verbatim transcript. Also watch the accompanying video Q: Where there any technical levels that were breached by the dollar-rupee and where is the trade headed from here?
A: Looking at the currency scenario, probably 44.50 might be broken in the near-term. If it breaks, then it would send a kind of panic signal to all the exporters who have not covered till now. Rather than the direction of the rupee, the most surprising thing is the pace of the fall which we have seen in the dollar. The flows have been very impressive over the last couple of weeks and the broader dollar weakness is driving this momentum. 44.50 should hold. If it doesn