Indian Rupee Surges as RBI Tightens Policy; Bonds, Stocks Plunge

Indian Rupee Surges as RBI Tightens Policy; Bonds, Stocks Plunge

Dhiraj Singh/Bloomberg

The rupee surged 0.9 percent to 59.3450 per dollar as of 9:20 a.m. in Mumbai, the biggest gain since June 28, according to prices from local banks compiled by Bloomberg.