Rupee not volatile, to remain range bound: Mayaram

Tags: News
With the rupee touching 11-month high against the US dollar, Finance Secretary Arvind Mayaram today said the domestic currency is not volatile and would remain range bound.

"Rupee will be range bound... It will neither become very strong nor weak, which is the strength of the rupee," Mayaram told reporters.

The currency is not volatile, he added.

Mayaram said several companies that have taken forward positions will square that off, and "therefore" the rupee will remain range bound.

Extending its rising streak for the fourth straight session, the rupee closed the day at 58.59 per dollar - up 20 paise. It had jumped 32 paise to trade at a fresh 11-month high of 58.47 in the early trade on sustained foreign capital inflows following the BJP-led NDA sweeping the Lok Sabha elections.

Global credit rating agency Moody's said the election results will have the immediate effect of sustaining investor sentiment, which has also recently boosted India's equity indices and the rupee.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must redefine poverty based on mobile haves and have nots

    Who is poor? Who is not?

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Tushar Gandhi

We’re nothing without our farmers

For centuries, India has been an agrarian and a skill ...

Purnendu Ghosh

Love or hate can happen at sight

Hate, like love, is an all-consuming passion. There are people ...

Shona Adhikari

Taking a leaf out of nature for inspiration

I was on a 10-day visit to Bangalore. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture