Wednesday, November 13, 2013

Is the Indian rupee on the brink of another violent downturn?

......"The big issue is [the] RBI is no longer supplying as many dollars to state-owned oil companies as what it was - so now they have to go back to market to source their dollars. That's a concern as the oil companies are now more visible from a market perspective," said Jonathan Cavanagh, a currency strategist at Westpac.............

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