Low dollar returns add to FPIs' woes; Dollex up just 39.8% since March 2014

Dollex shows more pain for foreign funds amid depreciating currency

The Sensex has risen 67.3 per cent since March 2014. The Dollex — which measures Sensex returns in dollar terms — has risen just 39.8 per cent.

The fall in the rupee, from 59.89 in March 2014 to its current levels of 71.77, has taken away much of the gains that foreign investors would have otherwise made. In fact, dollar returns over the longer term are even more abysmal.  

The Dollex is currently trading at 1.8 per cent lower than its pre-2008 crisis high. The rupee was then trading at under forty against the dollar.

Experts feel strong structural reforms