Rupee slide to continue, RBI not likely to intervene
Says Madhusudan Somani, head of foreign exchange trading at YES Bank, "Going forward, one can expect some pressure on the rupee given a correction in the equity markets and an increase in the global risk aversion."
Somani adds in the last few days, there has also been a lot of dollar demand from the oil companies -which is leading to further weakness in rupee.
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Labels: dollar, indian currency, RBI, rupee, somani, yes bank
