Modi Effect: Rupee Best Performing Asia-Pacific Currency Press Trust of India | Updated On: May 25, 2014 12:16 (IST) Boosted by capital inflows and euphoria around the incoming government, the rupees surge to 11-month highs has made it the best performing currency in Asia-Pacific region against the US dollar so far in 2014. The rupee, which closed at 58.52 levels against the US dollar on the last trading day on Friday, has incidentally seen a lions share of 5.3 per cent gain in the past one month. ...positive sentiments out of the election results enabled us to upgrade our FII flows estimates by $5 billion to $20 billion, implying an overall BOP (balance of payment) surplus of $29 billion. We expect the dollar/rupee range to be 57-61 in FY2015, Kotak Mahindra Bank chief economist Indranil Pan said in a report. In Asia-Pacific, the rupees gains against dollar are followed by the rupiah (of Indonesia), which has appreciated 4.6 per cent, the New Zealand dollar (3.75 per cent rise) and the Australian currency (3.5 per cent rise).
Posted on: Mon, 26 May 2014 14:23:52 +0000
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