Indian Rupee Gains on Global Optimism

The Indian rupee rose at the fastest pace in a week today as the revival of the global stock markets restored the optimism of the traders that the foreign investors will return to Indian, buying the local assets with the local currency.
The involvement of the foreign investors into the Indian stock exchange during the last trading session exceeded the presence detected during the previous 5 trading days. The benchmark SENSEX index grew by almost 0.6 percent today.
After the rupee reached its short-term maximum (in the last two weeks) today, the analysts started to comment the favoring of this currency as the it may seem to be one of the most attractive emerging currencies when the investors’ confidence improves.
USD/INR declined by 0.4 percent — to 48.645 as of 7:09 GMT today — the biggest decline for this currency pair since January 27.

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