KEDIA FOREX REPORT 05012009

Kedia Stocks and Commodities

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 Rupee strengthened against the US dollar in early trading on the back of solid regional stocks and encouraging manufacturing sector data. The Indian rupee thus touched its strongest level against the greenback in nearly four weeks. Rupee appreciated 0.8 percent to 46.265 against the greenback and the pair moved in a holding pattern thereafter. This set the highest level for the rupee since December 8, 2009 and it is expected to rise above the 46.0 level in near-term. 


 
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