At a time when almost everyone associated with the financial markets is getting jitters from the depreciation of the rupee, there is a small set of investors that is rejoicing for having invested in global feeder funds. This is because when the investments in these funds were made they were converted into dollars. However, the NAVs, when converted back into rupee, are showing smart profits even if the dollar-denominated returns are not so good. So even though RBI Governor D Subbarao, Deputy Governor Subir Gokarn and other top central bankers are trying to contain the weakness of the rupee, these investors, along with the exporters, are a happy lot.
TOI
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