Rupee hopes for record breaking, forward and strong hope in Modi's return

The worst performing currency in the Asian economy has become the best performing currency in five weeks.
Strong indications of NDA's comeback in power led by Prime Minister Narendra Modi strengthened the rupee against the dollar.

At the same time, the lack of tension between India and Pakistan has also seen the impact of rupees. Apart from this, the sentiment of the stimulus package between the Chinese economy and the prospect of a trade agreement between the US and China has strengthened the perception of emerging markets.

For all these reasons, the rupee has been successful in becoming the best performing currency in the last one month.

Bloomberg said in a quoted exchange of currency specialist in Scottsbank, Singapore, "If Modi comes to power again, the rupee will get stronger." He believes that till June end the rupee can be up to 67 per cent.

In the month of February, foreign exchange of $ 2.42 billion in the Indian stock market, which is the highest in the last 15 months. At the same time, till March 18, foreign investors are buying shares of $ 3.3 billion. In 2018 overseas investors had cleared a total of $ 4.4 billion from the Indian market, after which the market has gained strength from this large investment.

"Market is moving forward on Modi's victory because no other reason can be seen," said Anandya Banerjee, an analyst of the agency Kotak Securities.

While replacing the loss of 2018, the rupee has been successful in touching the 7 months height.