Oil, foreign flows in focus for rupee; bond traders eye rate-hike bets - Kitco
Oil, foreign flows in focus for rupee; bond traders eye rate-hike bets - Kitco
Source: Kitco
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DW NOTE
The rupee's direction depends on two variables Delhi cannot control: the price of oil flowing around a closed Hormuz, and the appetite of foreigners for assets denominated in a currency that has lost 8% against the dollar in twelve months. Bond traders are pricing Fed tightening while crude sits near $100. That is not an environment where emerging market carry looks attractive.