Indranil Sen Gupta, India Economist at DSP Merrill Lynch (India) expects the Indian currency to trade in the range of 58-62 against the US dollar because of measures taken by Reserve Bank of India (RBI).
RBI can maintain the exchange rate in this range at the cost of 50 basis points of economic growth, Gupta said.
This assumes that the July 23 measures are reversed before the busy October-March season, Gupta said.
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