Rupee may depreciate after consolidation: Nomura
The rupee closed sharply lower today on weak equity markets and a stronger Dollar. Neeraj Gambhir, MD & Head of fixed Income at Nomura says that the Rupee may be in a consolidation phase and could see depreciation in the weeks ahead, weighed down by the trade and current account deficit. He also expects bond markets to remain range bound since the RBI may limit any monetary easing in the Oct policy to a CRR cut.
