Rajeev Malik of CLSA says Ironically, India has further opened up debt investment to FIIs just when global factors made that inflow into EMs less attractive. "The volatility and the swings in risk-driven foreign capital compromise rupee stability."
According to him, the rupee will eventually weaken to cross the 60/USD mark in a sustained manner. "Admittedly, this is playing out sooner than we expected."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
