Rupee unlikely to breach 97 despite high crude prices and strong dollar: Naveen Mathur

Naveen Mathur, Director of Commodity & Currencies - Anand Rathi Shares & Stock Brokers expects the rupee to remain under pressure from high crude prices, a stronger dollar and elevated US bond yields but says strong RBI reserves should prevent it from breaching 97 against the dollar. He also expects a 25-basis-point RBI rate hike in October. What could change the rupee's trajectory?