Economics
Rupee Drops Most in Emerging Asia on Growth View: India Credit
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India’s rupee is falling the most among emerging Asian economies as investors question the government’s ability to implement policies to boost growth, which the central bank predicts will be the least in a decade.
The currency fell 1.8 percent to 53.8150 per dollar last month after rising 5.1 percent in September, when it was the region’s best performer, data compiled by Bloomberg show. October’s decline compares with a 0.2 percent drop in Indonesia’s rupiah and a 1.9 percent gain in the South Korean won. JPMorgan Chase & Co. predicts the rupee will end 2012 at 54, while Credit Agricole CIB forecasts a weakening to 54.50.