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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India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. Full Article