India’s rupee is the best-performing Asian currency in January on optimism the nation’s improving economic outlook will attract more global funds.
The International Monetary Fund said this month that India is poised to become the world’s fastest-growing major economy in the year to March 2017. Overseas investors, who net bought a record $42 billion of stocks and bonds last year, have added another $5.4 billion to their holdings in 2015, the latest exchange data show. India’s central bank cut interest rates in an unscheduled move on Jan. 15 as plunging oil prices helped slow consumer inflation. Bonds rallied for a fifth month.
