Indian Rupee seen at Rs 40 aganist USD
Monday, June 11, 2007Citigroup currency analysts forecasts the Indian Rupee to stabilize around Rs 40.00 against the US Dollar over the next 3 quarters.
The Rupee forecast against US Dollar for the next few quarters is as follows,
Q3-2007 - Rs 40.30
Q4-2007 - Rs 40.10
Q1-2008 - Rs 40.00
So IT exporters will be under tremendous pressure to re-negotiate billing rates or revise the earnings guidance lower.
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