"We expect the CAD to be lower in the remaining quarters of the FY'14 than the corresponding quarters in FY'13 in view of a pick-up in exports and a significant drop in gold imports," India Ratings today said in a research report.
The much awaited Reserve Bank of India (RBI) policy will be announced today. A 25 basis points repo rate cut is unanimously expected by most market experts and economists.
Believe it or not, today the rupee is hovering around 53 against the US dollar. The deteriorating external environment has driven investors to the US dollar as a flight to safety, hitting most Asian currencies.