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Foreign funds flee India's bonds just when it needs them the most

The amount of sovereign securities held by global funds has slumped Rs 76,700 crore ($10 billion) from this year's peak in February

Topics
India bond market | foreign funds | Mutual Funds

Bloomberg 

Foreign funds have slashed their holdings of India’s government bonds to the lowest in three years amid dwindling returns, just as the nation embarks on a huge borrowing plan. The amount of sovereign securities held by global funds has slumped Rs 76,700 crore ($10 billion) from this year’s peak in February as steep hedging costs diminished pay-offs in one of Asia’s highest-yielding markets.

The rupee’s plunge by about 6 per cent in 2020 further reduced the appeal of Indian debt. ALSO READ: Pharma, chemical stocks lead under lockdown, Aurobindo is top ...

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First Published: Wed, May 27 2020. 01:51 IST
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