Timely RBI intervention can help cap rupee slide at 72 levels: Nizam Idris

A steady rise in crude oil prices and the possibility of rate hikes by the US Federal Reserve pushed the rupee to a 16-month low on Wednesday. Singapore – based NIZAM IDRIS, managing director, head of strategy – fixed income and currencies at Macquarie Bank tells Puneet Wadhwa that the rupee can easily hit 70.0 against the US dollar. Edited excerpts:

What is your outlook for the Indian rupee?

Given current broad market conditions, the rupee can easily hit 70.0 against the US dollar, not just driven by domestic factors but also the rising broad pressure on Emerging Market (EM)