Rupee scales a record high...
The rupee surged up sharply against the U
S dollar and managed to touch a new nine-year high of 40.55/56 on fresh dollar selling, provoked by China’s decision to revise the Yuan as well as strong equity markets. The rupee started weak at 40.74/76 to a dollar at the inter bank foreign exchange (forex) market, but managed to surge up to a fresh nine-year high of 40.55/56 to a dollar in late morning deals, however, it ended the day at 40.70/71 per dollar. Forex dealers opine that the rupee rallied sharply as anticipated in response to China’s decision to widen the trading band on the Yuan and to eventually raise domestic interest rate
For Complete IIPM Article, Click on IIPM Article
S dollar and managed to touch a new nine-year high of 40.55/56 on fresh dollar selling, provoked by China’s decision to revise the Yuan as well as strong equity markets. The rupee started weak at 40.74/76 to a dollar at the inter bank foreign exchange (forex) market, but managed to surge up to a fresh nine-year high of 40.55/56 to a dollar in late morning deals, however, it ended the day at 40.70/71 per dollar. Forex dealers opine that the rupee rallied sharply as anticipated in response to China’s decision to widen the trading band on the Yuan and to eventually raise domestic interest rateFor Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
Labels: Arindam Chaudhuri, Guru and Economist, Guru Arindam Chaudhuri, IIPM, IIPM-Article, IIPM-Business Management School, Management Guru, renowned management guru
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