Whether the currency manages to breach 64 or not will decide the next move

The rupee, which was threatening to revisit 65 levels early last week, has made a smart recovery. The currency fell to a low of 64.7 last Tuesday. But a strong rise in the Indian benchmark equity indices on Thursday helped the rupee to reverse higher from its low of 64.7. Moreover, the US dollar turning weaker towards the end of the week aided the rupee to strengthen further and touch a high of...