As of Friday, the Indian Rupee has held its own against the dollar, rising more than 0.72% this week. Last observed, the rupee was trading at 58.87 for each dollar.

At the end of Thursday, Rupee was recorded at 59.1 per dollar. This signifies the currency's strongest stand since 19th June. On 8th July, the Rupee had dropped to one of its lowest at 61.21 per dollar.

The measures employed by the Reserve Bank of India (RBI) have seemed to restored a level of balance in recent days. Indian currency improved after banks sold dollars in favor of the Rupee. Exporters have also contributed to the change by selling dollars.

All measures under implementation currently point towards short term gains to boost growth. However, long term solutions need to fall into place to lower the nation's deficit.

(AW: Sruthi)