Recent bullish action in the Indian rupee
The rupee:dollar exchange rate has steadily moved to ~44, reaching levels similar to those a year ago:
Steady FII & FDI inflows and new highs in the equity markets without any corrections have helped rally the rupee versus the US dollar. Question is: will the rupee breach the 43.5 mark as it did in early 2005? And what does that mean for export-focused large caps such as TCS, Infosys, Wipro, etc.?
With the RBI continuing to raise interest rates while the US Fed remains on hold, and the recent investment grade rating by S&P, it seems there are no clouds on the horizon for the rupee!
For live charts of the INR:$ rate, bookmark this page.
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