"The rupee is by far the world's most undervalued major currency," says HSBC fixed-income...

|By:, SA News Editor

"The rupee is by far the world's most undervalued major currency," says HSBC fixed-income specialist Geoffrey Lunt, his bank stepping in to buy beat-up Indian bonds. The struggling rupee has also dinged India equity ETFs like the EPI - off 14.6% YTD - and ICICI Bank (IBN), off 10.8% YTD after a 20% decline in the last 6 weeks.