Deals
Indian Rupee Rebounds on Speculation Policy Shifts to Draw Funds
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India’s rupee rose the most in almost two weeks on speculation the central bank and government will make policy adjustments that spur growth and attract funds to Asia’s third-largest economy.
The focus of monetary policy has to increasingly shift toward growth “from this point onwards,” the Reserve Bank of India said yesterday in a statement as Governor Duvvuri Subbarao kept borrowing costs unchanged. The lower house of India’s parliament approved changes yesterday to banking laws that may spur expansion in the industry.