After a long 8 months a (partial) return to sanity. If a stable govt is not formed (hint, hint) then the rates may go down again.  As far as the stock market is concerned, analysts are forecasting a big crash coming up, so if you have enough money to play with please proceed but with caution 🙂

Continuing its rising streak, the rupee
on Friday strengthened to below 60 level at 59.90 for the first time
since July 2013 against dollar in late afternoon trade on sustained
foreign fund flows.

Dealers said sustained selling of the
American currency by banks and exporters and ongoing bull-run on the
domestic equity markets also buoyed the rupee sentiments.

Indian currency resumed higher at 60.18 per dollar as against the last
closing level of 60.31 at the Interbank Foreign Exchange (Forex) Market
and firmed up further to break the crucial 60 level to trade at 59.90 in
late afternoon trade, a level last seen in July 2013.  

Meanwhile, the benchmark
BSE sensex gathered 125.60 points, or 0.57 per cent to close at a new
lifetime high of 22,339.97 after climbing to an all-time intra-day high
of 22,363.97.


Brown Pundits