The rupee has gained a lot since the market favors a stronger rupee and it seems that India’s economic growth and strong corporate results have been the driving force for a lot of stock market investments and foreign direct investments.
The currency has gained 1.5 percent in the past month and it s expected that the rupee will be Rs. 45 against the dollar by the end of December.
Many companies in the sub-continent have benefited from the increase in the economic growth which is expected to reach 8 percent for the fourth year. The growth in the economy has boosted stocks attracting capital into the equity market .
Because of the strong rupee importers are benefiting as it lowers the cost of buying goods overseas. And Oil companies seem to be the first ones to buy dollars with the rupee strengthening .
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