INR in appreciation mode

 INR  touched 61.64 level  on 19th Sept (One Month high)  (10.4% recovery to   all time low of 68.80 on 28th Aug

     Key reason  

v USA Federal Reserve decision not to  taper QE3 for now surprised market (Not likely to happen till Jan /2014)    

 

vFear of USA led military strike on Syria   has  completely faded away from the mind of Market participants  

 

v Positive sentiments  building up for market friendly announcement by RBI Governor on 20th Sept review meeting

 

v FII Fund inflow increasing steadily(SENSEX continuing its upward drive and touched three years high  ) 

 

v FDI Inflow increasing gradually ( April ~July 13 à  USD 7 Billion  à up by 20% YOY )