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Little upside left in Indian rupee, says HSBC

January 29, 2010  

From Pamela Tang

The bank notes that the rupee is now the fourth most expensive Asian currency against the US dollar. HSBC is tipping the Korean won, the New Taiwan dollar and Indonesia’s rupiah to appreciate more strongly.

Investors are unlikely to find much more upside in the Indian rupee and should look at other Asian currencies for yield, according to HSBC.

The rupee has performed well in the last few months off the back of strong equity...


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OFFSHORE RENMINBI DCM

Rank Bookrunner Value ($m) No. %Share
1 HSBC 2,717 31 19.6
2 Standard Chartered Bank 1,889 26 13.6
3 Bank of China Ltd 1,561 17 11.2
4 Deutsche Bank 893 13 6.4
5 Industrial & Commercial Bank of China - ICBC 827 12 6.0
6 Agricultural Bank of China Ltd 607 7 4.4
7 Goldman Sachs 570 8 4.1
8 Citi 569 8 4.1
9 China International Capital Corp Ltd 461 5 3.3
10 DBS 442 9 3.2
Subtotal 10,534 72 75.9
Total 13,886 81 100.0

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