Indian rupee touched the highest level of 63.73 with the dollar at Wednesday’s level. This is the highest level of dollars in the past two years. Earlier on Tuesday, it was closed at 64.07 against the dollar. At this time, Rupee is the world’s best-performing currency in the international market. So far, it has increased by 6 percent compared to the dollar. Take a look at the five things related to this increase:
The increase in the arrival of foreign currency in domestic stock and bond markets is being considered as one of the reasons. This month there is a flow of $ 30 billion in the Indian currency market.
Because of this flow, the domestic stock market touched new heights this year. This month Nifty has been the most performing market in Asia with an increase of 23 percent.
According to experts, this kind of flow will determine the performance of rupee this year only.
Low inflation, a decrease in current loss and better prospects of economic growth are among the reasons for good performance of the rupee.
The trend of dollar weakening globally. Its performance in the basket of six major currencies has been the weakest in the last 15 months.