If oil continues to remain higher, can see pressure on the rupee, with the pair moving towards 68.06-68.70/USD, says Arvind Narayanan, DBS Bank.
Watch the interview of Arvind Narayanan, Head of Sales, Treasury & Markets, DBS Bank with Manisha Gupta on CNBC-TV18, in which he shared his reading and outlook on emerging market currencies and Fed rate hike.
Arvind Narayanan, DBS Bank expects rupee to continue weaken gradually unless China further devalues yuan. If that happens the weakness could be sharp, he says.
Arvind Narayanan, head of sales, treasury and markets at DBS Bank says rupee has been an outperformer for a while now and a fair amount of profit booking is not an issue. He feels a repeat of FY14 is unlikely.
The rupee would by and large rupee track Asian currencies around the world and could weaken to around 62.50-63 to the dollar, feels Arvind Narayanan of DBS.
Arvind Narayanan added that strength in the rupee will not hamper exports much.
Rupee will be rangebound today ahead of the FOMC minutes. The mood remains slightly bullish. We could see rupee move below 63/USD again. The range for the day is seen between 62.50-63.40/USD, says Arvind Narayanan, DBS.
The mood remains slightly bullish. We could see rupee move below 63/USD again, says Arvind Narayanan, DBS.
According to Arvind Narayanan of DBS Bank, as the market moves towards December and if strong data continues to come out of the US, emerging markets and countries with hight current account deficit like India will suffer more than other countries
The government should set up a committee and talk to large sovereign investors who are willing to invest in India. Further, it also can opt for issuing bonds, says Arvind Narayanan of DBS Bank.
The Indian rupee opened lower at 61.37 per dollar versus 61.27 yesterday. "The rupee is likely to strengthen marginally on the announcements made by the Finance Minister, says Arvind Narayanan, DBS Bank.
The range for rupee is seen between 60.80-61.20/USD, says Arvind Narayanan, DBS Bank.
Arvind Narayanan of DBS Bank sees the rupee trading in 58.40-60 per USD band in the short term.
DBS Bank's Arvind Narayanan feels there is some sort of urgency between the RBI and the goevernment due to which the market is playing safe.
US yields are expected to rise, which will make the rupee weak. June WPI is seen around 5.3 percent. The range for the rupee is seen between 59.70-59.60/USD, says Arvind Narayanan, DBS Bank.
DBS Bank's Arvind Narayanan expects some more weakness in the Indian currency over the next couple of months on the back of strong US data and some weakness on the domestic fundamentals.
In an interview to CNBC-TV18, Arvind Narayanan of DBS Bank spoke about the volatility in the rupee after it touched the 61/USD mark on Monday.
The Indian rupee breached the 61 mark and touched a record low of 61.20 a dollar in morning trade, down by 97 paise compared to Friday's closing of 60.22 per dollar.
The range for rupee is seen between 60.30- 60.80/USD, says Arvind Narayanan, DBS Bank.
The rupee will not fall significantly from current levels as a bunch of inflows are expected to support it, said Arvind Narayanan of DBS Bank.
The range of rupee for the day is seen between 59.30-59.65/USD, says Arvind Narayanan, DBS Bank.
The rupee is likely to strengthen by at least 60-80 paise from the current level if Fed hints at continuing the stimulus, says Arvind Narayanan, Head of Sales, Treasury & Markets, DBS Bank.
The Indian rupee opened lower by 39 paise at 58.25 per dollar versus 57.86 yesterday. "The rupee is likely to open weak on better US data. The range for the rupee is seen between 57.80-58.20/USD, " says Arvind Narayanan, DBS Bank.
The range for the rupee is seen between 57.80-58.20/USD. The rupee is likely to open weak on better US data, says Arvind Narayanan, DBS Bank.
Arvind Narayanan, head of sales, treasury & markets in DBS Bank says from a sheer risk-reward perspective of investing, the US markets wherein the dollar rates have gone up, look definitely more impressive and more attractive than a rupee investment.