June 16, 2016

RBI governor faces ghosts of rupee's past

NEW DELHI (Reuters) - The looming expiration of an emergency liquidity measure introduced during India's 2013 currency crisis comes at a risky time for the rupee, with about $20 billion in deposits expected to leave the country as global investment appetite worsens.
Analysts warn the rupee (INR=D2) - already Asia's worst performing currency against the U.S. dollar this year - continues to look vulnerable ahead of September, when dollar term deposits that India raised from citizens abroad in 2013 start to mature.

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