Singh Lures Biggest Inflows Since 2010: India Credit
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The biggest inflows into India’s bonds and stocks in 17 months are bolstering a rally in rupee-denominated debt and allowing the government to resume sales of stakes in state-run companies.
International investors poured $7.3 billion into local assets last month, the most since adding $8 billion in September 2010, according to data from the Mumbai-based Securities & Exchange Board of India. The nation’s notes have returned 2.2 percent this year, the second highest among 10 Asian markets monitored by HSBC Holdings Plc. The rupee has advanced 6.1 percent against the dollar, the best performance among Asia’s 11 most-traded currencies.