Bank of America reports that the Indian rupee's stability and low risk of depreciation attract carry traders.
Bank of America says the stable and inexpensive Indian rupee is attracting carry traders due to its low risk of depreciation compared to other emerging markets. The rupee is one of the least volatile currencies, partly due to the Reserve Bank of India's interest-rate pause and record foreign exchange reserves. Going long on the rupee has been the only carry trade in Asia to give positive returns against the dollar this year.
June 10, 2024
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