New Delhi: In case of Greece’s exit (Grexit) from the Eurozone, foreign portfolio investment (FPI) equity inflows into India could stall as markets would swing to risk off, Bank of America Merrill Lynch said.
In the forex market, BofA said, “We believe that the RBI would sell USD 15 billion to defend Rs 65/USD levels to anchor INR expectations in the FX markets. Not surprisingly, Governor Rajan… reiterated that the INR is at fair value,” it said.
