Rupee’s dive traps FPIs with unhedged govt bond positions
Mumbai: Unhedged currency-risk exposure of overseas funds has roiled India’s relatively calm sovereign bond market, hitherto in a one-way bull run ahead of favourable global index recasts, as the usually steady rupee abruptly slid to record lows on both onshore and offshore platforms Friday amid an evident risk-off sentiment worldwide. Foreign portfolio investors, having splurged … Read more
