The rupee found its footing this week after a run of jittery trading, buoyed by export figures that comfortably beat gloomy forecasts.
What is behind the steadiness
Textiles led the way, but a quiet rise in technology-services exports added a welcome new stream that economists say could matter more over time.
One good quarter does not fix the structure. But it buys breathing room, and right now breathing room is valuable.
Officials were quick to claim credit, while independent analysts pointed to a mix of policy, favourable timing and a softer import bill.
- Textile exports comfortably ahead of forecasts.
- A promising uptick in services exports.
- A softer import bill easing pressure on reserves.
The mood is cautiously optimistic rather than celebratory. Sustaining the momentum, everyone agrees, is a far harder task than achieving it for a single quarter.
