Posted 1/9/2024, 1:57:04 AM
Rupee Strengthens as Exports, Reserves Rise and Deficits Shrink
- Rupee appreciation compelling exporters to sell dollars, helping keep exchange rate stable
- Hopes for new investment council bringing Gulf business delegations to explore opportunities
- Surge in central bank reserves and IMF responses building confidence
- Crackdown on illegal currency transactions and single exchange rate stabilizing rupee
- Massive decline in trade and current account deficits helping service debt