25 May 2017 | 3:30 AM
Research Report

Currency Research Report: Weekly Currency Report

The Indian rupee rose to near three-month highs against the US dollar. This is the biggest monthly gain for rupee since September 2013 mainly on the back of year-end foreign fund inflows and exporters’ dollar sales. However, gains were limited due to apparent intervention by the central bank.  The Reserve Bank of India will raise the limit on foreign investment in government bonds by 205 billion rupees for the April to September period. The limits for investment by FPIs in Central Government Securities for the next half year are proposed to be increased in two tranches, i.e., by 105 billion rupees from Apr. 4 and by 100 billion rupees from Jul. 5 respectively, which is quite positive for rupee in the medium term.
04 Apr 2016 | 02:39 PM