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Indian Rupee And The Law Of Unintended Consequences
What’s driving the rupee? Carry trade unwinding? Fundamentals? Or the law of unintended consequences?
After a period of inertia, the Indian rupee has started to show signs of life again. It fell to a nine-month low as the week opened, only to be supported by dollar selling perceived to be on behalf of the central bank, which had remained hands-off through last week.The rupee fell to 75.09 against the U.S. dollar in early trade but rebounded to trade back below 75 by mid-day. Last week, the Indian unit depreciated the most in two year...
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