Rupee Has Best Week Since June on Stock Inflows: Mumbai Mover
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India’s rupee completed its biggest weekly gain since June as Moody’s Investors Service maintained its stable outlook on the nation’s credit rating and Goldman Sachs Group Inc. raised local shares to overweight.
Moody’s said Nov. 26 that the Baa3 ranking, the lowest investment grade, is supported by economic growth and investment that’s more than emerging-market averages. The outlook for Asia’s third-largest economy is improving, Goldman Sachs said in a report yesterday. The global economy is in the best shape in 18 months, according to the latest Bloomberg Global Poll of investors released this week.