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“Mkts React To Rupee Fluctuation In Either Direction”

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August 8: Have the RBI measures not only failed to stem the rupee fall but also hampered growth? Uday Kotak, Executive Vice-Chairman & MD at Kotak Mahindra Bank, says, “A 5-6% rupee depreciation per annum is inevitable due to inflation differentials.”When the rupee dips, markets in the short run will be determined more by technicals than fundamentals, he adds.