Rupee to be in 68.40 to 68.80 range in short-term, says ICICI Bank
The Indian rupee will be in the range of 68.40 to 68.80 against the US dollar in short-term, said B Prasanna, Head-Global Markets Group, ICICI Bank.
A combination of positive macro indicators like lower trade deficit, opinion polls suggesting a stable government at the centre is leading to change in the view on the rupee.
“From flow perspective, the rupee would perform better and there could be a little bit of outperformance with respect to other Asian currencies but a significant part of the outperformance is over and we would be hostage to any big flows,” he said.
“We have seen capital flows come in not just from the FPI equity side but also from debt side and also seen a lot of capital flows happening on the FDI front, a lot of companies raising money from the offshore markets,” he added.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
