Indian Rupee Rises Second Day on Bets for Foreign Fund Inflows
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India’s rupee rose for the second day after data showing the U.S. economic recovery is gaining momentum, boosted demand for higher-risk emerging-market assets.
The currency climbed after a report yesterday showed U.S. manufacturing expanded last month at the fastest pace since 2004. The Bombay Stock Exchange Sensitive Index snapped a five-day losing streak, as stock gauges across Asia rose. Financial markets in China, South Korea and Taiwan are closed for the Lunar New Year holiday.