Dalal Street Investments

Indian Rupee seen at Rs 40 aganist USD

June 11, 2007

Citigroup 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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