Reported 4 months ago
The article discusses how a potential strong victory for Indian Prime Minister Narendra Modi in the upcoming elections could fuel the nascent rally of the Indian rupee. Analysts predict that the rupee, which has been under tight control by the central bank, may strengthen and reach 82 per dollar by the end of 2024. While Modi's re-election is generally seen as positive for the rupee, gains could be limited due to the Reserve Bank of India's policy of maintaining currency stability to protect export competitiveness. Traders are awaiting the election results on June 4, with hopes that a decisive victory for Modi's party could further support the rupee, which has been one of Asia's top-performing currencies this year.
Source: YAHOO