RBI in a strong position to counter rupee volatility: FX trader

The Reserve Bank of India (RBI) is in a strong position to counter rupee volatility, says Ashutosh Raina, Head - FX Trading, HDFC Bank.Raina was speaking after the rupee today fell 22 points to 67.30 to the US dollar while bond yields ended nearly flat after rising, following Raghuram Rajan's announcement he would not seek a second term as RBI governor."The rupee should stay in a range [with a somewhat downward bias]," Raina told CNBC-TV18, adding that open market operations on the part of the Reserve Bank would support both the currency and bond prices.The RBI's decision to bring liquidity in the system to neutral level should also help, he added.Watch video for more.