Rupee still 17.6 percent overvalued: Nomura

Source : REUTERS
Last Updated: Fri, Jun 28, 2013 02:50 hrs
Indian currency of different denominations are seen in this picture illustration taken in Mumbai

​Nomura says its FX valuation model shows that the rupee is still about 17.6 percent overvalued, giving more room for weakness.

Nomura says the chances the government or authorities implement measures soon have risen, now that the rupee is trading below 60 to the dollar.

"We doubt the RBI can continue to intervene aggressively, as the more it intervenes, the greater the vulnerability to further capital outflows," the note says.

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