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INR review

Quotes from Capital Economics:

-The rupee has been the best performing major EM currency so far this year. This is in part due to falling commodity prices which have helped to lower India's import bill, but it is also the result of strong foreign inflows into local equity markets.

-The rupee has appreciated by over 1.5% against the US dollar since the start of 2015 to 62.2/$. Its strong start to the year becomes even more apparent when compared to other major EM currencies.

-The rupee has been the best performer, with others either making modest moves or, in the case of the Brazilian real and Russian ruble, weakening substantially.

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