Indian Rupee rallies to 3-month high, goes from worst performer to rising star

Mar 07 2014, 01:33 IST
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The worst-performing currency among emerging markets less than a year ago. Reuters The worst-performing currency among emerging markets less than a year ago. Reuters
SummaryIndian rupee closed at a three-month high of 61.12 against the dollar, gaining 1.5% in just three sessions.

inflows would sustain in the run up to the elections. “However, this may soon ease off, as most of the recent flows into debt have been at the short end, wherein FII's outstanding investment is likely to hit the cap,” said Deutsche Bank in a report.

FIIs have already exhausted the investment limit in short-term treasury bills and commercial papers. Puri of JPMorgan Chase expects the flows to slowdown slightly owing to the limits being exhausted.

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