Rupee trading set to double, say local traders

Soni pointed to a likely revaluation of the Chinese renminbi at the end of this year or at the start of 2005 as a potential driver of a stronger rupee. A stronger Chinese unit would remove pressure on other Asian countries to maintain artificially weak levels for their currencies against the dollar, thus enabling the rupee to appreciate, he said.

Another factor potentially contributing to the strength of the Indian unit is the high level of investor interest in the economy, said Bhanu Baweja

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: