Mumbai: Today, the rupee climbed to its peak level within a month, driven by the viewpoint of soaring investment flows into Asia’s third- biggest economy.
In morning, the rupee was at 40.54/55 a dollar, which is its highest peak since June 6, and strengthening from Monday's 40.65/66.
The chief dealer with the foreign bank anticipating the rupee to trade in a 40.52-40.62 rannge today said, “The positive signals from Asian equities are leading the market to believe that the stock market will do well, and that the inflows will be good.”
He stated that the RBI was expected to get involved at around 40.52 to restrict the rupee’s advancements.

Mumbai: Union Bank of India (UBI), Bank of India (BOI) and State Bank of India (SBI) have altered the rate of interest on FCNR (B) and NRE (rupee) depository terms w.e.f July 1, 2007.

On the back of continued buying by importers and surmised intervention by the Central Bank, t

According to the reckonings of Treasury managers and economists, the rupee could slide back to its 43 levels against the US dollar by the end of this calendar year; the short term gains of the local currency indicated at a weaker currency over the medium term.

Decline of dollar against most major currencies is turning out to be great for Indian economy. The rupee has improved hugely to close at 41.85/86 against the dollar, which is recorded as a nine-year high.
The world-wide flaw of the dollar, attached with the resumed inflows from foreign institutional investors (FIIs) and the tightening of domestic rates assures traders to purchase the rupee and sold the dollar. This scenario would surely ease inflation because of decline in the cost of imports.

Indian industry looked confused over the issue whether the RBI should intervene in order to protect exporters from the gaining rupee or not.
As per CII, the domestic industry would have to accept a strengthening rupee in the short term, whereas, FICCI, Assocham and FIEO fancies RBI to check the sharp climb in the currency.