In a recent media interview with CNBC TV 18, Shri. Kamal Mahajan, Advisor – Treasury & Global Markets Bank Of Baroda spoke on the rupee outlook. In his view, the FM’s announcement and later the RBI transfer have upsurged the spirits of the domestic markets. However he highlighted that though the rupee chose to follow the weakening yuan, its weakening is low because of the dollar strength at Rs.98.90. Further with respect to bonds he said that the expected rally in the 10 year benchmark is getting postponed due to compulsive profit booking by a few players.
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