The rupee has depreciated by over 10 per cent this fiscal.Foreign - TopicsExpress

The rupee has depreciated by over 10 per cent this fiscal.Foreign brokerage Bank of America Merill Lynch (BofA-ML) today said the Reserve Bank’s defences to save the rupee are very limited and the domestic currency can depreciate to 65 to the dollar, if the country does not go in for an NRI or sovereign bond issue. “Unless the RBI raises NRI or sovereign bonds, the rupee will likely breach the 65 level in 2014, as it can at most sell $30 billion in defence,” BofA-ML said in a note. thehindubusinessline/economy/bofaml-sees-rupee-at-65-in-absence-of-nrisovereign-bond-sale/article4944828.ece

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