53-54/$ is fair value zone for rupee:
In an interview to CNBC-TV18, Vivek Rajpal, rates strategist, Nomura India says, 53-54 is the fair value zone for the rupee.
Indian rupee came close to 47 per dollar mark Tuesday and ended at 46.89/90 per dollar mainly due to risk aversion and banks arbitraging a weaker offshore rate.