Rupee now 2nd on exporters146;

The dollar, which was priced at Rs 46.46 on July 31, 2006, is now selling at Rs 43.47. This means that during the past eight months, the rupee has appreciated by almost 6.5 per cent. The Q3 study has placed the increase in oil prices, competitive environment and inadequate infrastructure as the third, fourth and fifth constraints respectively. These three factors were at the second, third and fourth positions respectively in the Q2 survey.

Speaking to The Indian Express, economist S P Sharma said, 8220;In the next two months, the dollar is likely to further depreciate as it has a direct correlation with rising crude oil prices. The rupee will easily appreciate to the level of Rs 41.50 to the dollar.8221;

He added, 8220;The USA accounts for more than 25 per cent of the world8217;s energy consumption. Crude is already being traded at 66 a barrel and is likely to see an upward trend in the next two months. This can be expected because crude had already touched the peak rate of 80 per barrel.8221;