Research Team at Deutsche Bank, notes that the main question on India was “how do you make money?” Key Quotes “INR remains a well-owned, albeit lighter, long. For some, it is simply a negative carry offset for the rest of their portfolio; for others, it still has fundamental and valuation appeal. The Rajan “carry-compensation” trend-channel was seen as the blueprint for INR trading, with both upside and downside limited. With equities appearing to base, some preferred chasing stocks; others were exploring state government bonds for pick-up. The main global risk for INR was an extended oil price bounce. On the domestic front, investors were generally relaxed about a Rajan term extension, and agreed that a setback in Uttar Pradesh next year was probably the main political risk, which is a long away.” For more information, read our latest forex news.