Apart from economic downgrades and debt defaults led by the financial turmoil in Greece, the other major worry for exchequers across the globe is currency appreciation. The rupee, however, hit a record low in one year at Rs 47 per dollar.
Pradeep Khanna, managing director and head of forex trading, HSBC India and Pramit Brahmbhatt, chief executive officer of Alpari India join CNBC-TV18 to analyse and debate the future of the rupee and the currency market going ahead. Below is the edited transcript of the discussion. Also watch the accompanying video Q: What accounts for this sudden depreciation? Rupee was never anyway in the ranks of the appreciating currencies when things were going good. Is this entirely the risk globally or were they more domestic factors? Brahmbhatt: As we have seen, there is a global effect which is causing the trouble with the rupee. It is more to do with the risk in the European market and that
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