Strong Recovery in Rupee and Real

This entry was posted on Monday, January 16th, 2012 and is filed under Cashew, Indian Forex.

Though the US ┬áDollar is firm in the currency market, there is no pressure on the Brazilian Real. Indian Rupee is still under pressure due to steep fall in its Forex reserves but the fluctuation is now only momentary and the upward move is very strong and continuous. Some confidence building steps by the Reserve Bank and positive developments between India and Iran on bringing ‘bilateral trade in Rupee terms ‘, seems to be the main reasons behind this bullish momentum. If the Exchange rate falls below Rs50/Dollar, big psychological changes may further improve the Indian currency market sentiments.

Filed Under: Cashew, Indian Forex