August 22, 2013
FIIs continue to be sellers in August, though in smaller quantities (till now). A quick chart:
This is data till Wednesday. Thursday data will come in later today but it looks like they sold over 1,000 cr. of equities (cash) yesterday.
In August, they’ve sold about 7,000 cr. in total, nearly 80% of it in debt alone.
The dollar, though has declined substantially, touching 65.
I have always maintained that we have such a weak current account, that it doesn’t need large sales by FIIs to break the rupee. All we need is for the investment inflows to …
Original Source: http://capitalmind.in