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Currency corner: Theme for rupee remains gradual depreciation
Theme for rupee remains gradual Depreciation, It has nearly been a month since the historic BJP electoral sweep.
It has nearly been a month since the historic BJP electoral sweep.
We have seen equities climb to record highs on expectations that the Modi government led reforms will finally unlock India’s true economic potential. Mid-cap and small-cap stocks have outperformed blue chips in recent weeks indicating that the risk appetite is returning to the Indian markets. Gold has witnessed a correction and FII has flowed into the debt markets with the ten year yield having fallen 50 basis points since April. However, one asset class has not been privy to this recent upsurge in optimism - the rupee has been trading in a narrow range and has started weakening against the dollar, eying the all important (and sentimental) 60 mark.
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