Foreign banks are offering upfront financing for wealthy non-resident Indians (NRIs) of 90% to set up dollar deposits in India following various central bank incentives, including cheap dollar/rupee swap rates and more relaxed terms on 3-5 year dollar deposits. We should see the vol collapse in the next few days. Is it time to sell USDINR volatility?
Source: Reuters
[stockquote]ATULAUTO[/stockquote]
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