..........If a Modi government comes to power, the belief is the R will move up to levels of 57-58. Much of this is predicated on FIIs remaining bullish on Indian markets—since mid-February, they’ve bought $8.6 billion worth of stocks and bonds. In the short run, the R could well surge to those levels, but it is likely to retreat thereafter. For one, while RBI may not explicitly express its views on where the R should be trading, the central bank’s commentary suggests it concurs with the finance ministry's view that 60-62 is reasonable...........
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