India Ratings and Research on Monday projected the rupee to remain volatile through the week and trade in the range of 67.15-68.05 against the dollar as investors await cues from central banks of the US and Japan.
“With the likelihood of more volatility in store, the domestic market will emphasise on shifts in global risk balance. The rupee could trade in the range of 67.15-68.05 per $,” Ind-Ra said. It expects investors to stay focused on the near-term trajectory and direction of markets this week. Over the week, the US Federal Reserve's two-day policy meeting ending on January 27 will likely to maintain status quo on rates.