In this article, we study the cyclotomic polynomials of degree N−1 with coefficients restricted to the set {+1,−1}. By a cyclotomic polynomial we mean any monic polynomial with integer coefficients and all roots of modulus 1. By a careful analysis of the effect of Graeffe's root squaring algorithm on cyclotomic polynomials, P. Borwein and K.K. Choi gave a complete characterization of all cyclotomic polynomials with odd coefficients. They also proved that a polynomial p(x) with coefficients ±1 of even degree N−1 is cyclotomic if and only if p(x)=±Φ_p1(±x)Φ_p2(±x^p₁)Φ_pr(±x^{p₁p₂p_r−1}), where N=p₁p₂p_r and the p_i are primes, not necessarily distinct. Here is the pth cyclotomic polynomial. Based on substantial computation, they also conjectured that this characterization also holds for polynomials of odd degree with ±1 coefficients. We consider the conjecture for odd degree here. Using Ramanujan's sums, we solve the problem for some special cases. We prove that the conjecture is true for polynomials of degree 2^αp^β−1 with odd prime p or separable polynomials of any odd degree.