Thanks for the links.. The question is about the balancing between “Speculative Capital” and “Productive Capital”. All these appreciation in Rupee is largely due to speculative capital inflow through FIIs and less by FDI. They will withdraw their money when Indian Stocks become less attractive. Then the trend might reverse. Very informative links.
Ramkumar R 
Thanks for the links.. The question is about the balancing between “Speculative Capital” and “Productive Capital”. All these appreciation in Rupee is largely due to speculative capital inflow through FIIs and less by FDI. They will withdraw their money when Indian Stocks become less attractive. Then the trend might reverse. Very informative links.