Rupee See-Saw
The currency markets have been adjusting the valuation of the US dollar over
the past six years. Its trade-weighted index now, at 80, appears fairly
adjusted against all the major currencies compared to its peak of 120 in
mid-2002. Viewed against this performance of the US dollar against major
currencies, at around its current price of Rs48, the Indian rupee has gained
about 3%...
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