FIIs bullish on India; strong dollar won't affect market

Foreign Institutional Investors remain bullish on India after the US Federal Reserve raised interest rates by 25 basis points. He sees no effect of the stronger dollar on Indian market.

Raising rates may pose a risk on the US economy as inflation rise has been minimal and productivity is yet to pick up. He would have favoured not raising rates by Fed now. But this rate hike is not very insignificant and may not derail the US economy.

On demonetisation: he says it is a brutal tool and its implementation was not very good. He is puzzled by the government's move.

In the short-term, the US dollar is going to be stronger than all the other currencies, including ones from developed economies.