The rupee hit 62.90 in early trade, its lowest level since Nov. 22, as Asian stocks trading with heavy losses. The pair last trading at 62.77/78 vs Friday's close of 62.66/67.
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A strong rupee coupled with falling forward premium rates will make bonds attractive to FIIs leading to strong inflows into the debt market. FIIs have invested close to $1 billion in bonds in December 2013 and this trend is likely to continue in 2014. #Rupee#Bonds#Indian rupee#CurrencyWatch#rupee bonds
Analysts in the poll were less optimistic about the rupee's prospects than they were in a similar poll last month, but said the currency is unlikely to weaken to the record low levels seen in August due to an improvement in the country's current account deficit.
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