Why Isn't The Forex What It Used To Be?

Why Isn't The Forex What It Used To Be?
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The Impact
  • High US and LIBOR interest rates force existing foreign investors to move out of emerging markets

  • Depreciating rupee, along with higher global interest rates, makes India a less attractive destination

  • Negative macro indicators about any country make foreigners apprehensive

  • Any signs of macro-economic problems scare away NRIs

  • Global currency fluctuations force RBI to revalue India's foreign assets to lower levels
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