Rupee to see choppy trade in 2008 (The Hindu Business Line 1st Jan 2008) The rupee will exhibit a choppy behaviour in 2008, say senior bank officials and foreign exchange dealers. The general consensus among dealers is that the rupee will continue to trade steadily at current levels of 39.40-39.50 in the first few quarters and then weaken post the second quarter of the next fiscal. Mr Ashvin Parekh, Partner, National Leader-Global Financial Services, Ernst & Young, said that the rupee would continue to rise against the dollar in the first few quarters of the next fiscal. “By the third quarter of the next year, the interest rate situation in the US will stabilise and that will prompt the dollar to gain ground against major currencies,” said Mr Parekh. More
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