Re getting stronger on foreign inflows deluge

Reacting to the deluge of foreign inflows after the Fed cut, Asia’s best performing currency this year Rupee has breached the 40 a $ mark and touched nine year high. Rupee was hovering today around 39.55 levels against a US dollar. It has appreciated over 15% in last one year. 

Some of the sectors have been badly hit due to this like IT/software, textile & garment companies. Families of NRI and the inbound tourist will also be losers on account of rupee appreciation. However, importers like oil companies, buyers of gold and outbound tourists and students will stand to gain. Table below shows the level of rupee in last one year.