Economics
India Rupee Drops on Concern Global Economic Growth Will Falter
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India’s rupee weakened for a second day as international investors pared holdings of the nation’s assets on concern global economic growth is faltering.
The U.S. Federal Reserve cut yesterday its forecast for this year’s growth in the world’s biggest economy to as much as 2.9 percent from an April outlook of up to 3.3 percent. Overseas funds reduced investments in Indian stocks by $336 million this month, after pulling out $1.16 billion in May, exchange data show.