Rupee could weaken to 55.20/$: Ashok Gautam
The rupee weakened sharply on Monday but rebounded marginally on Tuesday. Ashok Gautam of Axis Bank says the rupee is tracking the euro vs dollar movements. At the same time, strong gold and oil demand could continue to put pressure on the local currency. If the dollar remains strong, the rupee may weaken to 55.20/$ levels.
