ASSOCHAM
Industry/Policy/Currency Dollar to trade below Rs 50 in less than three months: ASSOCHAM Dollar is likely to drop below Rs 50 in less than three months and stabilize at this level on the back of a host of policy reforms, return of FIIs into the Indian stock market and weakening of the US Greenback against major currencies of the world, according to a forecast by an ASSOCHAM study. After rising 25 per cent in the last one year, the dollar has already been witnessing a sharp correction in the last two weeks after global investors turned back to India following the government’s determination to push ahead with the reforms. At present, rupee is trading at around 53 to a dollar. “The courageous decisions on FDI in multi-brand retail and hiking diesel prices in the face of widespread political opposition were the turning point. It so happened that these decisions coincided with the quantitative easing in the US and Europe resulting in rush of liquidity in the ...