Modi Effect : Rupee best performing Asia-Pacific currency in 2014

[sancho]

I heard after the elections there are plenty of investors lining up and somewhere around 10 billion dollars got pumped into the economy from abroad.

Don't let yourself blind from these BS we see today in the media. That has nothing to do with Modi, especially since he wasn't in power so far and couldn't do anything to effect the Ruppee. The fact however is, that the Rupee is rising since late 2013 and basically the whole year, so it's just a continuation of an already improving situation.

January 10, 2014

Indian rupee hits one-week high against dollar, inflation in focus

The Indian rupee strengthened to its highest against the dollar in more than a week on Friday on bets that data will show an improving economy and faltering inflation, boosting confidence in the country's outlook...
...
India is due to post industrial output later in the day, with analysts expecting a return to modest growth, and is due to post wholesale and consumer prices data next week amid expectations vegetable prices have eased.

That is helping raise confidence about the economy, thus supporting foreign inflows and domestic shares, both key factors for the rupee...

Indian rupee hits one-week high against dollar, inflation in focus - Business Today

Feb 08 2014

Indian rupee gains against US dollar on back of spectrum, Vodafone cues

Indian rupee managed to score weekly gains on the back expected inflows related to telecom spectrum allocation and also inflows related to Vodafone's 100% acquisition of domestic telecom unit. The rupee closed around 62.27 against the US dollar...

Indian rupee gains against US dollar on back of spectrum, Vodafone cues - Financial Express

Mar 11, 2014

Optimism about rupee grows, Barclays cuts one-month forecast to 59 vs US dollar

Favourable events of a strong Q4, such as the balance of payments report, reduced current account deficit, easing inflation and announcement of a general election timeline, seemed to trigger a significant rally in the Indian equity markets and a sharp outperformance by the INR last week, relative to its regional peers...

...Fundamental support for the INR continues to come from the huge improvement in the current account deficit since Q3 2013, a trend the global investment bank expects to continue.

Barclays have lowered their 1-month USD-INR forecast to 59.0 (61.0 previously) and recommend being short USD-INR targeting 59.0 with a stop-loss at 62.5.

"We think recent positive INR momentum, on the back of a narrowing current account deficit, softer inflation prints, enhanced policy credibility and strong capital inflows, will continue in the near term," said the report.

Optimism about rupee grows, Barclays cuts one-month forecast to 59 vs US dollar - Economic Times

2 April 2014

Rupee strengthens by 14 paise against dollar in early trade

The rupee strengthened by 14 paise to touch a fresh eight-month high of 59.77 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market.

Increased selling of the dollar by exporters amid sustained foreign capital inflows also supported the rupee, dealers said...

Rupee strengthens by 14 paise against dollar in early trade | Latest News & Updates at Daily News & Analysis


So the reduction of the deficit and the inflation, the return of FDI and growth started even under the UPA and not only now after the election. And as I predicted before, anybody could be PM today and would gain from the better situation in the west and more investments into India, even if nothing will be changed.
The new government will take over now and lets give them some time to integrate their policies to see what changes they bring and don't take every news as a result of the elections now.

 

[qwerrty]

weeeeee

 

[Al Bhatti]