The RBI stepping in to contain an over-appreciating rupee against the backdrop of geopolitical tensions and economic uncertainties so as to maintain India's export competitiveness, among other things, is behind the currency's movement. The central bank, they add, has enough levers to prevent volatility.
Citi was bearish on the dollar earlier. But after Donald Trump winning the US presidential elections, it has become bullish. Robert Buckland of Citi says the dollar will appreciate by around 8 percent soon.
Religare Group CEO Shachindra Nath, told CNBC-TV18 about his expectations from the Budget and what investor confidence and sentiment, both domestic and international looks like in the market right now.