India seen as last BRIC standing

Analysts and arrangers increasingly bullish on rupee-denominated bonds judging by the mood at FinanceAsia's latest Annual Borrowers and Investors Forum in Singapore.
From left: Lin-Jing Leong, investment manager, fixed income, Aberdeen Asset Management; Atsi Sheth, associate managing director, Sovereign Risk Group, Moody’s Investors Service
From left: Lin-Jing Leong, investment manager, fixed income, Aberdeen Asset Management; Atsi Sheth, associate managing director, Sovereign Risk Group, Moody’s Investors Service

Top debt issuers and lead arrangers at FinanceAsia's latest Annual Borrowers and Investors Forum, Southeast Asia, cohered around a positive outlook for rupee assets on Thursday.

“I think the dollar has topped out and our favourite local currency asset denomination right now is the rupee,” Kaushik Rudra, head of rates and credit research at Standard Chartered, said to a packed hall in Singapore, encapsulating the optimistic view.

Rudra referenced recent masala issuances and suggested local bond demand in the currency, as well as Indian government moves to liberalise capital markets, heralded an ongoing positive run for rupee bonds. 

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