Rupee may rise to 52 per dollar, top pick among emerging markets: Credit Agricole

Describing Rupee as its top pick among the emerging markets' currencies, the French investment bank Credit Agricole, has in a report said that the Rupee could rise to 52 per dollar by end of 2013.

Credit Agricole has also said that the Rupee will further gain by the UPA government's win on the FDI in the Lok Sabha despite questions on whether the reform will be approved by the upper house and concerns about its implementation. "The government's victory is a good sign of its ability to push through other reforms," the bank maintained.

On the other hand in an interview to ET Now, Jayesh Mehta giving BoA Merrill Lynch's view on the Rupee had said that furher depreciation was likely in the middle term but it did not see the currency going beyond 55 in the short term.

Meanwhile, the Rupee rose by 14 paise against the dollar in early trade on Thursday.