The Indian rupee advanced today on speculations that the elections will result in a victory of the main opposition party, which may initiate much needed reforms to bolster the struggling nation’s economy.
The elections that have started on April 7 will end today and the exit polls will be released at the evening. Opinion polls ahead of the announcement show that the Bharatiya Janata Party will get the majority seats in the government. The official tally will be released on May 16. Hopes of a change of the government were supporting the rupee lately.
USD/INR declined from 60.0100 to 59.8100 as of 11:36 GMT today.
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