Expect softening bias for rupee: Ashok Gautam

We expect a softening bias for the rupee with a range of 62.30-62.70/USD today, says Ashok Gautam of Axis Bank.

January 31, 2014 / 08:48 IST

Ashok Gautam, Axis Bank said, "Emerging market currencies have shown sharp weakness during the last few days. The impact was seen on rupee also, which has weakened till 63.18 in the recent move."

"We expect a softening bias for the rupee with a range of 62.30-62.70/USD today. Good corporate hedging seen near the daily upper Bollinger at 62.78 - 62.88/USD range. This band is to be carefully tracked for any convincing breach which might see rupee beyond 63 levels," he added.

first published: Jan 31, 2014 08:48 am

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