Rupee Completes Biggest Monthly Gain Since May as Oil Retreats

India’s rupee completed the biggest monthly advance since May on optimism a drop in oil prices will further ease inflation and create room for the central bank to cut interest rates.

Brent crude has dropped 24 percent since June 30, reducing costs for the South Asian nation that imports almost 80 percent of its oil needs. Consumer prices rose 6.46 percent last month from a year earlier, the slowest pace since the index was created in January 2012, the government reported Oct. 13.