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Rupee Rallies With Bonds as CPI Eases, Support Measures Expected

  • At 3.69%, August inflation print was lowest since Oct. 2017
  • Authorities will aim to slow pace of rupee weakness: BofAML
Indian 2000 And 500 Rupee Banknotes Ahead Of Budget
Photographer: Dhiraj Singh/Bloomberg
Updated on

India’s rupee and sovereign bonds climbed as slowing inflation added to optimism that policy makers will take steps to stem a rout in Asia’s worst-performing currency.

Consumer price growth eased below 4 percent for the first time in 10 months, according to a report late Wednesday, which followed comments from an official that the government may announce support measures. Local markets were shut Thursday for a holiday.