Epic Update: Indian Rupee

The Indian rupee rose by 22 paise to 53.92 per US dollar in early trade on Wednesday as against previous day’s close of 54.14 per dollar.
According to Himanshu Arora of Religare, the rupee may strengthen further today as the drop in gold and crude prices will help cap India’s current account deficit in the short-term.
He feels Finance Minister’s statement that India is committed to reduce its fiscal deficit may further underpin the rupee.

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