By using the method of separation of variables in the elliptical coordinate system, a representative formula in terms of Mathieu and modified Mathieu functions is derived and longitudinal field components for the even and odd modes are presented for the proposed fiber. The eigen value equation for the fiber to be considered is obtained by solving the fourth order determinantal equation under weak guidance condition and is given in this paper. The cutoff frequency of several lower orders modes for different eccentricities have been obtained and their propagation characteristics have been plotted. The effect of the eccentricity on the modal cutoff values and mode transmissions is discussed. Finally, the modal birefringence in the proposed fiber is also estimated.