Tuesday , May 23 2017

Asia’s top carry trade stokes rupee bulls with RBI on sidelines

A man shows new Rs 2000 currency after exchanging old Rs 500 and 1000 denominations at srinagar on Thursday 11 November 2016
PHOTO BY BILAL BAHADUR

Bloomberg Reserve Bank of India’s (RBI) apparent tolerance of rupee gains is burnishing the appeal of Asia’s best carry-trade currency. RBI governor Urjit Patel already surprised analysts by raising a key interest rate last month, and now there’s little indication that officials are intervening heavily to slow currency gains—unlike some ...

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