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Domestic currency to stable around 44 per dollar mark.

Standard Chartered Bank expect a long-term appreciation of indian rupee, while in the short to medium-term it see the rupee movement range bound. By December 2006, the currency could be stable around 44 per dollar mark, later one could see the trend of progressive appreciation. However, the dollar would depreciate vis-a-vis other currencies such as euro and pound. On the global market condition, in recent times the liquidity has been in surplus, US has tried to absorb this liquidity through interest rate hikes.

According to Shuchita Mehta, economist, Standard Chartered Bank, the government needs to focus on the FDI inflows to bridge the gap of investments and savings so that the country can maintain GDP growth of 10%, investment rate of 35% and saving growth rate of 30%. Moreover, to have a sustained GDP growth of 10%, the country needs to get $30-$40 billion per year in the form of FDI inflows.

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