• Indian rupee started the day on a stronger note following the better than expected numbers from IT
major Infosys and also weakness in dollar index supported the rupee.
• HSBC has slashed its USD/INR forecast for the end of the year to 62 from 65 previously because of
improvements in the CAD and measures to attract inflows.
• HSBC said that rupee will benefit from any inclusion of local government bonds in the JP Morgan
government bond index for EM, and also cited the $1 billion rupee-linked bond issuance launched
by World Bank's private sector arm International Finance Corp.