Posted 10/8/2023, 5:38:00 AM
Rupee Strengthens Against Dollar on IMF Loan, Trade Surplus Expectations
- Rupee gaining strength against dollar due to expected IMF tranche, trade surplus
- Rupee may breach 280 level soon; faced resistance at 275 level
- Factors strengthening rupee IMF loan approval, reduced smuggling, expected current account surplus
- Trade deficit falling, prospect of current account surplus positive for rupee
- Government actions against illegal dollar trade boosting investor confidence in rupee
