From an all-time low of 76.92 touched in April sometime last year, the rupee has rebounded smartly to hit highest levels in almost a year to prove that it is not just the domestic market whose recovery is worth taking note of!
When the rupee opened today, it touched an intraday high of 72.57, up nearly 18 paise over its previous close of 72.75, helped by upbeat risk appetite in the markets and strong macro data that came out on Friday evening. The rupee is currently trading at levels seen in March 2020.
The strong rally in the domestic currency since has come on the back of a weak dollar and subdued crude prices.
Meanwhile, large FDI deals and robust FPI inflows too have supported the rise in the currency. But with crude rearing its ugly head again, the question remains is the rise in rupee likely to be challenged soon?
In this podcast, Sujan Hajra, chief economist at Anand Rathi Shares & Stockbrokers and Gaurang Somaiyaa, forex & bullion analyst of Motilal Oswal Financial Services discusses the threats to rupee's trajectory and what's the outlook for the currency like
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