India’s Rupee Declines Most in a Week as Inflation Quickens
This article is for subscribers only.
India’s rupee dropped the most in a week as a report showed inflation accelerated, limiting the central bank’s scope to ease monetary policy.
Wholesale prices rose 4.86 percent in June from a year earlier, compared with a 4.7 percent increase in May, official data showed today. Price-increases had slowed in the four months through May. Consumer price-inflation quickened to 9.87 percent last month from 9.31 percent, while industrial output unexpectedly contracted in May, official figures showed July 12. The rupee will weaken in the coming months as the U.S. will pare stimulus this year, according to Emirates NBD PJSC.