MumbaiIndian rupee that has been seen among the top performing world currencies has surged to 63.73, a two-year high, against the US dollar, according to NDTV.
The report adds that domestic units soared 6 per cent year to date against US dollar and it has been one of the best performing currencies in the world.
On Tuesday, the domestic unit had closed at 64.07 per dollar against the greenback. “The structural story for India remains pretty strong,” NDTV quoted David Cornell, chief investment officer of London-based Ocean Dial Asset Management, as saying. Dial Asset argues India and other emerging markets will outperform over the next 12 months.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.