India’s Rupee Gains on Speculation Capital Inflows Will Improve
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India’s rupee gained the most in a week on speculation an improving economy will attract overseas capital as U.S. policy makers prepare to discuss debt purchases that may boost fund flows to Asia’s third-biggest economy.
The Dollar Index traded on ICE Futures in New York slid as much as 1.2 percent yesterday on speculation the Federal Reserve will boost bond purchases beyond the $600 billion already announced. Annual growth in India’s factory output accelerated to 10.8 percent in October from 4.4 percent in the previous month, a government report showed on Dec. 10.