The rupee has rallied sharply in 2012. Soumyo Dutta of Citibank says, the rupee may consolidate around Rs 48.70-48.60 per dollar. “Rs 47.90 per dollar will be the next target for the rupee,” he adds.
According to him, effective RBI intervention has helped the rupee. “Strong PMI data, equity markets rally have also helped in rupee appreciation,” he adds.
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