Firms from Goldman Sachs Group Inc. to Deutsche Bank AG are putting their faith in India’s rupee as the country looks forward to the biggest improvement in its broadest measure of trade in a decade.
India’s current-account deficit narrowed to a fresh four-year low as gold imports cooled, offering a potential boost for the rupee even as economists said the gap may widen again if the economy improves.
India’s 10-year government bond yields held near the lowest level in more than a week on speculation easing tensions in Ukraine will spur demand for riskier assets.
India’s 10-year government bonds rose on speculation yields near the highest level in two months attracted investors.
India’s rupee fell the most in two weeks on concern capital inflows will slow after a report showed Asia’s third-largest economy cooled.
Indian stock-index futures were little changed after the nation’s economic growth slowed and tensions over Russia’s intervention in Ukraine intensified.
India’s 10-year government bonds capped their worst monthly performance since November on concern a decline in the central bank’s debt purchases will lower demand for the securities.
India’s automakers are readying for a rebound in demand after national elections due by May, betting that a government armed with a new mandate will push through policies to jumpstart the economy.
Reserve Bank of India Governor Raghuram Rajan said the central bank aims to bring down inflation “over time rather than abruptly” in its effort to curb price pressures and generate sustainable growth.
India’s 10-year government bond yield climbed to a two-month high on speculation quarterly corporate tax payments will drain cash from the financial system next month, damping demand for debt.
"We want to fight against inflation and we'll bring inflation down."
- Raghuram Rajan on Sep 25, 2013
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