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NEWSFLASH : Gujarat Cadre IAS Tapan Ray Appointed As Secretary, Economic Affairs

Rupee At 62-63 Is Good Level: Nirmal Jain

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September 23: India Infoline Chairman Nirmal Jain says there are a number of theories to calculate the rupee’s fair rate, but the variables keep changing. Rupee stabilizing at 62-63 per dollar would make our exports more competitive, make discretionary goods more expensive and keep CAD at more competitive levels, he says. Speculation in currency markets caused volatility, he says, adding that he expects the rupee to depreciate by 4-5% every year.