India Rupee Completes Weekly Gain as Budget Cuts Boost Sentiment
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India’s rupee rose, completing a weekly gain, after stocks surged and the government unveiled plans to narrow the budget deficit in the fiscal year that starts April 1.
The Bombay Stock Exchange Sensitive Index, or Sensex, completed its biggest weekly rally in four months after Finance Minister Pranab Mukherjee announced on Feb. 28 that India will cut its fiscal shortfall to 4.6 percent of gross domestic product from 5.1 percent this year.