Foreign fund managers still back India

The rupee is caught in a downward spiral but foreign fund managers are not panicking yet. This is because they believe that the fall in the rupee should also be seen in the context of the overall decline in emerging market currencies this year. The Indian rupee breached the 71 mark to a dollar and is expected to slide further, which will erode the value of foreigners’ stock investments in India. While a lot of the hot money has moved out of India, portfolio managers who still hold that India’s e ..

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