Rupee Set for Best First Quarter Since 1975 Thanks to Foreign Flows
- RBI may intensify intervention if flows increase: StanChart
- Foreigners buy $5.5 billion of rupee bonds in March quarter
Aberdeen's Ritchie Is Bullish on India
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Foreign investors gorging on Indian stocks and bonds propelled the rupee to its best first-quarter performance since 1975.
The currency, Asia’s best performer this month, has rallied 4.7 percent since Dec. 31 as a thumping win for Prime Minister Narendra Modi’s party in state elections boosted bets for continuation of his government’s reform agenda, luring overseas funds. The Reserve Bank of India’s intervention in currency markets may intensify if inflows rise, according to Standard Chartered Plc.