Expect rupee to remain weak: Tirthankar Patnaik

Tirthankar Patnaik, Mizuho Bank said, "Expect rupee to remain weak in the medium-term as Indian equities align with global risk-off concerns and incremental disappointment on reform process by the government. Range for the rupee is seen between Rs 63.70-64/USD in the next 3-4 weeks. Rs 64/USD could be tough to break in the near term."
He further said, "Expect bonds to rangebound between 7.70-7.85% in the medium term. Bonds yields will be influenced by the deceleration in flows in the debt market. Need to keep an eye on non-food inflation."