Directions: In the passage given below there are blanks, each followed by a word given in the brackets. Every blank has five alternative words given in options. Find the word which best suits the respective blank. If the given word suits the blank, mark 'no correction required' as the answer.

The widespread consternation over the rupee hitting a 27-month low against the dollar is unwarranted, for the Indian currency has been among the better (Q11) [hiking] currencies over the last couple of years. While other (Q12) [trickling] market currencies.  such as the Russian rouble and the Brazilian real are down more than 20 per cent this year, the rupee is lower by just 6 per cent. This follows a strong performance in 2014, when the Indian currency lost just 1.2 per cent against the greenback. It is obvious that the rupee is in a sweet spot (Q13) [peculiar] to its emerging market peers, which have been hit hard by the (Q14) [ascent] in commodity prices. India, on the other hand, has benefited from this fall. The crash in crude prices combined with the checks on gold imports have helped (Q15) [recede] the current account deficit to just 1.27 per cent of GDP. Strong foreign inflows — from both portfolio and direct investments — have pushed India’s forex reserves to $351 billion; we are among the few countries that have (Q16) [considered] to increase forex reserves since the middle of last year. These reserves provide the Indian central bank with (Q17) [ammunition] to protect the rupee from short-term volatility that may arise once the Federal Reserve goes through with its long-anticipated rate hike. Since the Fed has given financial markets sufficient time to (Q18) [discern] the move, a 25 basis points move is not likely to cause too much turbulence. True, some short-term money will flow out of the equity markets; foreign portfolio investors have (Q19) [turned] net sellers since November. But long-term investors are likely to stay put due to the better growth (Q20) [contrariety] of Indian companies. The superior real yield, falling inflation and a stable rupee also make a strong case for staying invested in Indian debt instruments.

Q:

Choose the correct answer from the given options to fill the blanks which are numbered.

• 1
  spanned
• 2
  produced
• 3
  acquired
• 4
  raised
• 5
  No correction required.