1.   Indian stocks were little changed as concerns that the rupee may depreciate against the dollar offset optimism the economy will accelerate following a drop in interest rates.

2.   Now, in the last three or four months, the rupee has depreciated somewhat.

3.   The rupee has been depreciating steadily against the dollar this year, shedding seven percent of its value.

4.   They are priced in foreign currencies but carry foreign exchange risk that the rupee will depreciate.