Keeping exchange rate undervalued is a dangerous strategy and can have unintended consequences, says Jahangir Aziz, Chief Emerging Asia Economist at JP Morgan sharing his view with CNBC-TV18 on news the Commerce Ministry is considering rupee devaluation to support exports. "No country has so far managed to keep exchange rate undervalued and come out unscathed," he said, adding global trade has been languishing for many years now and it is more of a global structural change with little influence from currency in particular. Kalpana Morparia, CEO-South and South East Asia at JP Morgan also shared her view on the evolving credit bond market in India and how despite strong growth the domestic banking industry has still remained underpenetrated. She also expressed her views on negative yields arising out of actions of global central banks to push inflation back up.
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