.........I believe that 60 is the number where there could be a clear psychological turning point for the rupee as it is 30-35 percent lower than where the currency was in 2010-11. Despite inflation, despite policy paralysis, despite economic mismanagement, the rupee may be about to find it feet. If the rupee stabilises, the government will claim it was its efforts that did the trick. Don’t believe it. The rupee does not dance to P Chidambaram’s tunes. It is on its own trip based on more fundamental fundamentals and right now it could well believe that it has arrived. It is the dollar that should be a sell for Indians from now on..............
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