Rupee Rises Most in Two Months on Inflow Optimism: Mumbai Mover
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India’s rupee rose the most in more than two months on optimism U.S. lawmakers will agree on budget revisions and as Goldman Sachs Group Inc. upgraded the South Asian nation’s shares, boosting the prospect of fund inflows.
The world economy is in the best shape in 18 months as China’s prospects improve and the U.S. looks likely to avoid the tax increases and spending cuts known as the fiscal cliff, according to the latest Bloomberg Global Poll of investors. The BSE India Sensitive Index of shares surged 1.8 percent as Goldman Sachs said the outlook for Asia’s third-largest economy is improving, and raised local stocks to overweight, according to two separate reports published today.