In an interview to private news channel ,Mr Ashish Parthasarthy, head treasurer, HDFC Bank says that the rupee could see a range of 55-56 in the extreme short-term.
“We are not looking at any major moves beyond these boundaries, I won't put too much of it into just month-end dollar buying. I think the pressure is given the trade deficit and current account deficit. The pressure is there day in and day out. So, month-end may be causes a little bit of extra pressure.
I think the RBI will step in on days when there is volatility, much larger than what we observe on most of the days. I don’t think they are looking at levels to protect. They will just step in, whenever the volatility is very high.” he said.
Source:CNBC
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