Day: May 23, 2008

Rupee to Gain 9% This Year on Higher Rates

Fortis Bank analysts expect Indian currency to rise 9 percent by the end of this year as the Reserve Bank of India will have to increase interest rates to fight the accelerating inflation growth. India’s currency is currently the second worst performing among ten most-traded Asian currencies (excluding the Japanese yen) this year. Yesterday it reached its lowest rate against U.S. dollar in 13 months. Reserve Bank of India […]