Monday, March 20, 2006

Indian Govt. To Announce Full Float Of The Rupee

According to this article, full float of the rupee would facilitate conversion of the Indian currency into foreign currency and vice versa -- a move that would help attract greater investments. At present, the rupee is convertible on current account, basically for trade purposes.

We will have to see what steps are involved in the covertibility and how it helps the business sector.

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