India Rupee Volatility Falls for a Third Week as GDP Seen Rising
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Expectations for swings in India’s rupee fell for a third week as overseas funds pumped money into the nation’s assets before a report forecast to show economic growth picked up last quarter.
Foreign investors bought $550 million more local bonds and stocks than they sold in the first three days of this week, taking inflows this month to $3.9 billion, the latest exchange data show. Gross domestic product increased 5.5 percent in the three months through June from a year earlier, compared with 4.6 percent in the previous period, according to the median estimate in a Bloomberg survey before data due tomorrow.