Binary traders wanted to find some respite in this rise but their happiness did not last long as Rupee failed to hold its position. However, traders believe that rupee will rise even higher in value once the government starts implementing its policies in order to facilitate more and more FDI in the country. Many traders even opine that the Rupee will cross the 54.00 level as soon as the government gives permission for the implementation of FDI.
The FDI Issue
The Foreign Direct Investment issue has been a matter of controversy in Indian economy for long. The ruling coalition government has been under serious pressure not only from the opposition but also from its own coalition partners. It has also experienced a rift with some of its partners at the climax of this controversy. Though FDI has always been a part of Indian economy, the FDI in retail has ushered in an unprecedented controversy. The government says that FDI will work to boost up the Indian economy that has not been in stumbling for past few years. Many consider that FDI is the final resort for the government to add some life to the Indian economy.
What Binary Traders Think
Binary traders are in a precarious situation with this sudden rise and fall. Though they are optimist about the rise of Rupee in future they are afraid to take any distinct decision right now. It is hard to say what is going to happen in future but as of now binary traders are resisting themselves from taking risks. However, it can be said that once the government starts implementing its policies the market is going to show some positive signs to the relief of binary traders.
The overall economic condition in the world seems to be recovering from a state of crisis. Though the fear of a fiscal cliff in US has not yet been warded off, there are some positive signs in the US market. Moreover, the debt crisis in Europe also is getting cleared away slowly as Greece has already figured a way out of the crisis. The international lenders have decided to help Greece and it is presumed that the Euro zone will be soon out of trouble.