yuan: Short yuan-long rupee trades catch the eye, RBI unlikely to stay on sidelines
"I have also noticed that since the beginning of the year, there has been a lot of interest in buying Indian rupees, not against the US dollar but against some of the other Asian currencies, especially the RMB (Chinese currency)," said Patrick Law, Head of Asia Pacific Fixed Income, Currencies, and Commodities Trading, Bank of America.
Source: indiatimes.com