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India Business News: BSE Sensex, Nifty50 rally: The recent bullish trend in Indian equities, with seven consecutive weeks of gains, has market watchers speculating on a po
The surge in reserves is largely attributed to a pick up in foreign portfolio flows during the week and partly due to revaluation of non dollar foreign currency assets in the reserves. The benchmark 10 year US treasury yields fell 24 basis points during the week which prompted foreign portfolio flows into the Indian markets. One basis point is 0.01 percentage point.
Despite the rupee recovering from a record low of 83 to a dollar in October, the local currency may find it difficult to sustain levels below 80, industry executives and analysts said