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See Stable Rupee In Near Term, But Worst Not Over: UBS

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September 23: Since the rupee has come off lows, the MSF can be reduced as well, says Bhanu Baweja of UBS. The rupee has appreciated due to a doveish FOMC stand, so India is not completely in control of its destiny, he says, adding that RBI is likely to further reduce spread between the repo rate and MSF. Future policy will depend on CAD, fiscal and growth-inflation mix, he adds.