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.


  • Listing of exchanges, shareholder right will boost market fundamentals

    Capital market regulator Securities and Exchanges Board of India (Sebi) announced a milestone change in the Indian capital market at its Monday board


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Sachin Shridhar

Pay well and ask no more

Well, the 7th pay co­mmission has done the obvious. One ...

Kuruvilla Pandikattu

Children, religion and altruism

It is assumed that religious families foster selflessness a­nd love ...

Dharmendra Khandal

For a lark, let's do something serious finally

It’s a sight to behold. As you drive through a ...


William D. Green

Chairman & CEO, Accenture