Pro-reform budget to push rupee to 51/$ by March-end: IDBI Bank
The rupee will continue to trade in a band with various pulls and pressures continuing to impact the domestic currency. While the dollar may weaken if the US moves closer to an agreement on the fiscal cliff, weak domestic macros and wide trade deficit may continue to keep the rupee in check. According to N S Venkatesh, head of treasury at IDBI Bank, the rupee may now move towards 51/$ by March-end if the budget is pro-reform and pro-growth.
