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E-mail ID will not be published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

  • Sebi must not be lax in weeding out mutual fund houses

    Last May, capital market regulator Securities and Exchange Board of India (Sebi) amended the Sebi (mutual funds) regulations, 1996, directing all fund

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Customer orientation needs human touch

In the mid-1990s, while researching drivers of corporate excellence, we ...

Kuruvilla Pandikattu SJ

Can religion help us protect our planet?

Though not factually true, in popular imagination, the relationship between ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture