India’s Rupee Advances as Global Funds Boost Stock Purchases
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India’s rupee climbed to its strongest level in more than four months after overseas investors stepped up purchases of local equities, seeking to profit from growth in Asia’s third-largest economy.
The currency has appreciated on all but three days this month as foreigners’ average net purchases of India’s equities more than doubled. The benchmark Bombay Stock Exchange’s Sensitive Index rose, completing its best close since January