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FII gains evaporate as dollar turns too hot for rupee
Foreign investors in the Coal India (CIL) initial public offer (IPO) are staring at losses. The IPO was India’s largest and one of the most successful IPOs in recent times. What would have been unthinkable until recently is now imminent, as the rupee continues its slide against the greenback.
In October-November 2010, when the Union government sold its shares in the miner, some 484 foreign institutional
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