FIIs not leaving

2.6 billion The money they invested in the Indian debt market in the sameperiod

Changing tracks in September

FII outflow in equities 1.40 bn

FIIs inflow in debt 2.80 bn

Why FIIs head to debt market

Obviously, the returns are more in India. There aren8217;t enough good investment avenues in the crisis-ridden US market

8 per cent The return on 10-year benchmark government securities 8212; four times the yield in the US

Indian debt is Attractive in the global market. while an investor can get returns of around 2 per cent by investing in debt instruments in the US, it can be around 3-4 times higher in India. In the present scenario of global credit turmoil, FIIs are finding sovereign debt instruments in India more attractive than equities Vikrant Gugnani, CEO, Reliance Mutual Fund.

But then, why was dollar so hot?

At its low on Tuesday, the rupee had plummeted nearly 6.5 per cent in September and more than 16 per cent in 2008. A major reason is the sudden activity in the non-deliverable forward market in the rupee 8212; where companies and dealers were buying dollars in the spot market selling in the forward market to make a fast buck.