Rupee likely to be range bound, says Arvind Mayaram

Commenting on rupee’s outlook post the US Federal Reserve’s move, economic affairs secretary Arvind Mayaram says rupee is likely to be range bound.

According to him, rupee at 63 against the dollar is not a matter of concern. He believes if the Indian currency reaches 63 and then pulls back, then that is range bound, because these are normal market operations. Sometimes there is greater pressure because of purchase of dollars, sometimes there is less pressure, but as long as it is range bound, which we believe it will be, I do not think there should be a matter of concern.