“This is in stark contrast to the position that India faced in 2013 where a far more modest monetary tightening by the Federal Reserve, relative to what we are currently witnessing, sent the rupee tumbling from Rs 54/$ to Rs 62/$ in the space of six months. Such a currency meltdown is highly unlikely now largely because of India’s improved energy efficiency,” said the Rs 13,000 crore fund manager of Marcellus PMS.
