In the last one year (from April 2012 to March 2013), the rupee has seen frequent ups and downs. The value of the rupee was at 54.28 to a US dollar on April 2, 2012. Then it fell to Rs. 56.63/dollar by June 25, 2012. From then on until August 2012, :he value of the rupee kept swinging between 55 and 56 per dollar. Thereafter, riding on the Centre’s decision (September 14, 2012) to allow FDI in multi-brand retail, the rupee gained in value to touch 52.80/dollar by end-September 2012. It closed tradings in end-October 2012 at 53.80 to a dollar. It then plunged again to touch a two-month low of 55.16/dollar by November 16, 2012, before seeing some gains in value at 54.30 to a dollar on November 30, 2012. The rupee ended the last day of 2012 at 54.84 vis-a-vis the dollar. It closed at 53.25/dollar in end-January 2013, while at end-February 2013, the value of the rupee was at 54.40/dollar. On Match 31, 2013, the value of the rupee was perched at 54.28/dollar.