While rupee is appreciating many of its competitor currencies are depreciating, says FIEO

The rupee is at an 11 month high and on a year on year (YoY) basis, it has appreciated by 0.2 percent. Now the government plans to raise a part of its gross borrowing in foreign markets through a sovereign bond. This can strengthen the rupee even more. Can this hurt the economy and should the Reserve Bank of India (RBI) look at active depreciation as a strategy? Ajay Sahai, director general and CEO of Federation of Indian Export Organisations (FIEO), Sajjid Chinoy, chief India economist of JPMorgan and Pradeep Khanna, MD and head of FX trading of HSBC India discussed this and more.