RUPEE RECOVERS AND
STARTS ROLLING !!
The partially
convertible rupee closed at 59.91/92 per dollar compared to 60.31/32 on
Thursday. The rupee rose as high as 59.68, its strongest since July 30.
The
rupee posted its biggest quarterly gain since the September quarter of 2012 as
heavy foreign buying of equities and debt boosted the local unit, may be termed
as `RAJAN`S EFFECT`.
It is widely speculated that the central bank has likely bought nearly $2-$3 billion over this week in its attempt to slow the rupee's rally.
It is widely speculated that the central bank has likely bought nearly $2-$3 billion over this week in its attempt to slow the rupee's rally.
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