Rupee Strengthens as Military Crackdown on Smugglers Reduces Demand for Dollars
- Rupee gained 23.50 against dollar in a month thanks to military crackdown on smugglers
- Rupee tumbled to 307.10/$ on Sept 5, now hovers around 283.60/$
- Crackdown reduced black market demand for dollars
- Analysts expect rupee to strengthen further to 280/$
- IMF review in late Oct/early Nov will determine medium-term outlook
