Rupee ended higher at Rs 50.05 per USD as against its previous close of Rs 50.34.
Here is a verbatim transcript of Latha Venkatesh comments on CNBC-TV18. Also watch the accompanying video.
On the Rupee:
The currency has had a very good day. The rupee opened almost 50 paise higher or rather dollar was cheaper by about 50 paise and that was largely because the rupee was also making up for the gain Asian currencies on Friday. All told, the G20 announcements had a salutary impact and the rupee’s got two-days of catching up to do, so good going on the rupee. One saw a sharp fall in the dollar in the early morning trades but thereafter those statements coming from the RBI Governor that current account deficit could widen in the current year have had some kind of a positive impact on the dollar, in any case there has been buying by PSU banks but of course the NDF market – the offshore market – which had been long on the dollar was seen unwinding in the domestic market and that’s why one is getting still a rupee that’s stronger day-on-day.
