Rupee could rise to 52/dollar by end-2013: Credit Agricole
Reuters Market Eye - Rupee could rise to 52 per dollar by end of 2013 and is Credit Agricole's top pick among the emerging markets, it says in a note.
The government winning the vote on foreign direct investment in multibrand retail will continue to help the rupee despite questions on whether the reform will be approved by the upper house and concerns about its implementation.
"The government's victory is a good sign of its ability to push through other reforms," the bank says.
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This business of notes is livelihood for hundreds in Old Delhi, with vendors charging a fee of up to 20 percent to replace damaged banknotes. A mildly damaged 500 rupee note, for instance, can be exchanged for 480 rupees, while a bundle of crisp, new 10 rupee notes valued at 1,000 rupees is priced at 1,050 rupees. Full Article