The Indian rupee has strengthen nearly 8% from its 2016 low of 68. In 2017 the Indian Rupee has strengthen against the US Dollar by nearly 4% but its gains against other majors are absent. The Rupee has weakened 7% and 3% against the Euro and GBP in CY17.

Insight – Strong Rupee has been a drag on exports for a while. Other than the US Dollar the Rupee seems to be exports supportive which could blunt the effect of a drag on exports.