Havala, politics and the rupee

Turning on a dime, the market has taken the government’s new-found focus with great enthusiasm. The stock market has shot to its highest level since July, with FII inflows of over $3.5 billion in September alone. The rupee, too, has been soaring, rising to its strongest level since the start of May, in the process breaking through several stiff resistances and apparently eliminating almost all of the negative sentiment built into its value as recently as a few weeks ago.

Read Full Story>>