Beware of Euro

Euro Heading for 1.12 within 1 year time

Rupee Forecast

Dear All Rupee has moved into uncharted territory, looks upside with a stop loss of 52.20 for a target of 56 to 58 within 6 to 8 months time.

Since beginning of March Rupee depreciated by 10% against the USD, the RBI uncomfortable with the Rupee depreciating at faster pace and has asked exporters toconvert half of their balances in the exchange earner's foreign currency (EEFC) account to rupees. Widening current account deficits and inflationary pressures are still there