Mark Mobius, who oversees more than $24 billion in emerging-market stocks as the Singapore-based executive chairman at Templeton Asset Management Ltd, and Hugh Young, who runs $45 billion from Singapore as a managing director at Aberdeen Asset Management Ltd, agree with Jhunjhunwala.
“The rupee, the second-worst performer among Asian currencies after falling 20% this year, may strengthen to between Rs44 and Rs45 against the dollar by March, Jhunjhunwala said. The currency gained 1.1% to 49.02 yesterday