Rupee to trade in a wide range of 52.50-55/$: Jamal Mecklai
The rupee is expected to trade in a wide band of 52.50-55/$, says noted forex expert Jamal Mecklai of Mecklai Financials. According to Mecklai, recent government actions have helped revive sentiment in the currency markets. He is, however, cautions against expecting steep gains on the rupee from current levels. Mecklai also expects the dollar to strengthen from current levels as the focus returns to concerns in Europe.
