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The rupee has almost depreciated by 12-14{6d013aa424931dc0686ae813fcfc32395128f8de9324772a5551bacbef664f95} against the US dollar since early March and has been driven by a mixture of deteriorating world threat sentiment and bleak domestic fundamentals. There may be hardly any room for enchancment in domestic macro fundamentals within the close to term, therefore any pullback in the dollar/rupee is likely to be largely depending on policy initiatives or an enchancment in world threat-appetite. CMD Money Issues Financial Services Ltd Rajesh Sharma says the RBI is anticipated to float greenback-denominated bonds via public sector banks for non-resident Indian traders. The RBI has earlier also borne the alternate fee danger on such bonds. The interest rates shall be significantly greater than those on dollar-denominated assets. If well structured and executed this scheme might trigger $10- $15 billion of inflows in a short time. The dollar/rupee is expected to hover around 55-56 levels within the short term.

Yahoo

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