Economics
Indian Rupee Snaps Three-Day Loss as Yellen Supports U.S. Policy
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India’s rupee snapped three days of losses after Federal Reserve Chair Janet Yellen signaled the U.S. central bank will maintain economic stimulus that’s bolstered demand for emerging-market assets.
Yellen indicated yesterday that U.S. interest rates will stay low to support its objectives on inflation and employment, with such a policy “maintaining a degree of accommodation” to aid the recovery. India’s S&P BSE Sensex benchmark of stocks climbed 1.6 percent, its first increase in four days and the biggest in more than a week.