Rupee may gain this week on FM P Chidambaram's pep-talk
(Chidambaram and ministry…)
MUMBAI: The rupee, which rebounded by a massive 135 paise last Friday,
may continue to gain this week as investors hope government and Reserve
Bank will make more efforts to stabilise the market, say treasury heads
of banks.
The domestic currency, which touched an intra-day low of 65.56 on August 22 on fear that the US Fed was on course to taper off its monthly asset purchase programme, recovered sharply on August 23 to end at 63.20 after the pep-talk by the finance minister on CAD and fiscal deficit. So far this fiscal, rupee has lost close to 20 per cent.
nagesh dubey
pgdm 1
The domestic currency, which touched an intra-day low of 65.56 on August 22 on fear that the US Fed was on course to taper off its monthly asset purchase programme, recovered sharply on August 23 to end at 63.20 after the pep-talk by the finance minister on CAD and fiscal deficit. So far this fiscal, rupee has lost close to 20 per cent.
nagesh dubey
pgdm 1
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