Indian rupee has surged to its highest level in the last 3 months, scaling above 61 dollar mark in trade on Friday, recording its third consecutive days of gains. The strength in rupee has been supported by massive reduction in country’s Q3 current account deficit which fell below 1% of GDP. India’s CAD has narrowed to just USD 4.2 bn, the lowest in the last 18 quarters on back of drop in gold imports .On the global front, easing of tensions between Russia and the west over Ukraine issue, has brought about a positive bias for emerging market currencies including the domestic unit.
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Indian rupee has surged to its highest level in the last 3 months, scaling above 61 dollar mark in trade on Friday, recording its third consecutive days of gains. The strength in rupee has been supported by massive reduction in country’s Q3 current account deficit which fell below 1% of GDP. India’s CAD has narrowed to just USD 4.2 bn, the lowest in the last 18 quarters on back of drop in gold imports .On the global front, easing of tensions between Russia and the west over Ukraine issue, has brought about a positive bias for emerging market currencies including the domestic unit.

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