Indian Currency Appreciation is a Big Step in the Right Direction

This entry was posted on Tuesday, January 17th, 2012 and is filed under Cashew.

Indian currency appreciation is a big step in the right direction. But further appreciation should be done in this week or with in the next 8-10 days, in order to facilitate the smooth functioning of the import-export trade. Much delay may cause long term uncertainty in the Indian Forex market as well as in the domestic trade. Because of the strengthening Rupee, the Indian domestic cashew kernel market may become temporarily quiet but when the world kernel market marches ahead, it will also follow the global boom. If the Indian currency strengthens to Rs48-49/Dollar, the W320 market may gain 10-15% and if the Rupee completely regains the lost ground i.e Rs44-45/Dollar, the W320 may once again move towards $4.6 -5.00/pound, in accordance with factory-wise and area-wise grading standards.

Filed Under: Cashew