Business Daily from THE HINDU group of publications
Monday, Dec 01, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Dec 01, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Forex Money & Banking - Forex Columns - For the Asking Weakening rupee What explains the almost 25 per cent depreciation in the Indian rupee vis-À-vis the US dollar in a matter of about ten months? Pradeep Raparia, Jaipur The prime reason is demand for the dollar in India. And during the last couple of months there has been a huge surge in demand for dollars, ironically by the American financial institutions operating in the Indian bourses as FIIs. They are busy selling their shares thus causing upheavals both in the stock and currency markets. They have repatriated around $15 billion in the last couple of months adding to our woes. One hopes that the Indian rupee would claw back when pressure from FIIs abates. The oil prices have been coming down and this should cool down the demand for dollars thus easing the pressure on the rupee. S. MURLIDHARAN More Stories on : Forex | Forex | For the Asking
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