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Effect of Rupee Depreciation/FII outflow on Debt fund

I have read the news that FII’s are selling in the Debt market and that is the prime reason rupee is falling. What is the effect of Rupee Depreciation/FII outflow on Debt fund. What does it mean for small investor having 2 lakh in debt fund. Is there any possiblity that there will be erosion of wealth in the debt fund.

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