The Indian rupee hit a record low of 84.0725 against the US dollar, driven by outflows from local equities and debt, and Hyundai’s fund repatriation. The Reserve Bank of India’s likely intervention helped limit further losses, while fluctuations in the dollar index ahead of US elections also influenced the rupee’s performance.
Debt funds pricing in a rate cut step up bets on long end of yield curve
Mutual funds have broadly stepped up their bets in longer-duration government bonds in 2024 as the likelihood of interest rates being lowered – even if