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MARKET EYE-Buy 1-month INR/IDR NDF - Credit Agricole
March 7, 2014 / 5:38 AM / 4 years ago

MARKET EYE-Buy 1-month INR/IDR NDF - Credit Agricole

* Credit Agricole recommends buying INR/IDR 1-month NDF as a
short-term trade.
* Note says INR has jumped 1 pct after December-quarter current
account data, but move seems to have more legs.
* However, for IDR most of the recent good numbers have been
priced in while the latest trade data shows deterioration.
* Both currencies have negative implied yields for 1-month NDFs
but the degree is much more pronounced in case of the IDR,
making it an attractive sell, it says.
* Both countries have similar exposure to external factors,
making a relative value trade attractive.

 (subhadip.sircar@thomsonreuters.com /
subhadip.sircar.thomsonreuters.com@reuters.net)

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