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India's New Central Bank Chief Looks About to Get Positive News on Rupee

  • Positive current account will be a welcome development: ANZ
  • Broadest measure of trade to show $2.6 billion surplus: survey
Urjit Patel.

Urjit Patel.

Photographer: Mint/Hindustan Times via Getty Images
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India’s new central bank chief Urjit Patel, faced with high inflation that limits his room to spur flagging growth, looks about to get some positive news on the rupee.

The current account swung to a $2.6 billion surplus in the April-June quarter, its first since 2007, according to the median of 13 economist estimates in a Bloomberg survey before data due this month. A stronger external profile stands to boost Asia’s second-worst performing currency, making it a safer option for global funds seeking higher yields.