Wednesday, September 16, 2009

Indian Rupee Experienced Highest Rise in 6 Weeks

You know that world business and economy had to suffer a lot because of the worst recession after 1930 struck in the US economy over the last couple of years or more. Now, the question is if the recession has fully got over or not. Well, whatever the answer is, one thing is for sure that the overall economic condition across the world has been better recently.

Recently, Ben S. Bernanke, the chairman of Federal Reserve, said that the economic recession in the US is “is very likely over.” That was enough to stimulate the economy of emerging markets. For example, Indian rupee got strengthened after this announcement.

Bloomberg reported:

The rupee climbed 0.5 percent to 48.395 per dollar as of 10:35 a.m. in Mumbai, according to data compiled by Bloomberg. It earlier jumped 0.7 percent, the biggest gain since July 31. The currency has appreciated 1 percent this month.

Well, it is clear that there is no thing to be happy with the recent rise in Indian rupees because the improvement came artificially. An announcement can not make an economy stronger unless it is really strong in terms of other economic elements.

0 comments: