Indian Rupee Rises to One-Week High on Recovery, Rate-Cut Signs
This article is for subscribers only.
India’s rupee climbed to a one-week high on speculation the central bank will reduce borrowing costs to support growth amid signs of a recovery in the global economy.
Wholesale prices rose 7.37 percent in December from a year earlier, near the 10-month low of 7.24 percent in November, according to the median of 28 estimates in a Bloomberg survey before data due Jan. 14. The Reserve Bank of India will review interest rates on Jan. 29. China’s exports rose more than forecast last month, official data showed today, and Credit Agricole CIB predicts a slowdown in the pace of contraction of Indian shipments.