India's Economy Is a Little Less Awful Than Before

Photograph by Dhiraj Singh/Bloomberg

India’s weak economy may be on the mend. After a dizzying fall for the country’s currency over the summer, the rupee has stabilized and investors are returning to the country’s equity markets. The rupee (which traded at 56.5 to the dollar at the start of June) plunged to nearly 69 by late August but has since strengthened and is now back to 62.25, thanks in part to tightening by the Reserve Bank of India that has increased rates by 50 basis points since September,

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