Past few months it has been a roller coaster ride for Rupee. It has certainly been a bad time for Computer Enthusiasts , DIYers , Robo Builders , etc.. who have to import many of their stuff due to rapid stock depletion or unavailability and on top of that custom duty issues. Until now we all have been asking : When will Rupee Recover? When will it get stable? Is the worse over or will still continue? Well , Rupee has gone through its baddest times but now its all set to Recover. This Recovery might take a bit time to recover but as per Experts its on its track to recovery. At the time of writing this post Rupee had already recovered by a good amount – From 65.34 to 63.82 per USD(Source : dollar2rupees) and BSE Sensex was already up by 720+ points. Lets hope that Experts are predicting it correct.
Sources :
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“The currency has moved probably too far and we have a situation where there could be a pullback on the currency. It’s been a combination of all kinds of hedge funds and other derivative instruments that have played a big role in this dramatic decline of the rupee and that is probably over” – Mark Mobius
Read more at: Here
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“Rupee has seen its worst fall at 68.80 per USD levels and will stabilize between 64 and 62 per USD level” – Regan Homavazir
Read more at: Here
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“Market is on steadier ground after the better-than-expected July CAD figure and is likely to remain so until the September 17 Fed meet” – Ratnesh Kumar
Read more at: Here
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“Indian and Japanese governments have decided to expand their bilateral currency swap arrangement from USD 15 to USD 50 billion. It is expected that this will contribute to the stability of financial markets” – Reserve Bank of India.
Read more at: Here
- Expect rupee to continue its recent strength: Mohan Shenoi
- Rupee leads Asia forex gains on China stabilisation hopes
