Indian rupee set for limited post-election gains
Gains depend on RBI intervention
The strong parliamentary majority of the newly elected Bharatiya Janata Party (BJP) and its leader, Narendra Modi, has paved the way for the Indian rupee (INR) to extend gains against the greenback, although the central bank's intervention policy should cap the currency's upward trajectory, strategists say.
Currently trading at the 58 level against the dollar, Nomura expects the Indian rupee to have further gains, reaching 57 by the year end and 55 by the end of 2015, depending on the extent of
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