Due to thrust on exports, Rupee may not gain much against dollar: Anil Kumar Bhansali, Finrex Treasury Advisors
During FY23, the Indian rupee depreciated against all major currencies except the yen, with losses of about 8.42% against the dollar, 2.14% against the pound, and 6.21% against the euro. However, the INR remains fairly stable against emerging markets and Asian currencies. Bhasnsali believes that the current USD-INR level is ideal for exporters and importers, with limited upside at 83 and a range-bound currency attracting foreign investment in the short to medium-term.
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