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The Indian rupee firmed up for the fourth consecutive session this morning,
surging above the psychological Rs15-mark against the UAE dirham and the
Rs55-mark against the US dollar.
The rupee was trading at a five-week high of Rs14.92 against Dh1 at 10.20am UAE time today, witnessing an improvement of 4.3 per cent from its lifetime low of Rs15.59 vs. Dh1 that it made last month.
The rupee has been firming up recently on the back of good news emanating from the euro zone as well some concrete steps being undertaken by the Indian government to clarify taxation limits on foreign companies.
Click here to read ‘5 reasons why rupee will hit 50 by March’
In addition, the recent departure of the former finance minister Pranab Mukherjee, who will be contesting the upcoming Indian Presidential elections, has helped boost market sentiment as the finance portfolio is now being overseen by Prime Minister Manmohan Singh, an economist of repute.
In a recent report, India rating agency Crisil says there is a two-in-three chance that the rupee will appreciate to around 50 against the US dollar (Rs13.61 vs. Dh1) by March-end 2013.
The rupee was trading at a five-week high of Rs14.92 against Dh1 at 10.20am UAE time today, witnessing an improvement of 4.3 per cent from its lifetime low of Rs15.59 vs. Dh1 that it made last month.
The rupee has been firming up recently on the back of good news emanating from the euro zone as well some concrete steps being undertaken by the Indian government to clarify taxation limits on foreign companies.
Click here to read ‘5 reasons why rupee will hit 50 by March’
In addition, the recent departure of the former finance minister Pranab Mukherjee, who will be contesting the upcoming Indian Presidential elections, has helped boost market sentiment as the finance portfolio is now being overseen by Prime Minister Manmohan Singh, an economist of repute.
In a recent report, India rating agency Crisil says there is a two-in-three chance that the rupee will appreciate to around 50 against the US dollar (Rs13.61 vs. Dh1) by March-end 2013.
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