India’s Rupee Rises Most in Asia This Week on Inflow Optimism
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India’s rupee rose the most in Asia this week on speculation policy makers will ease curbs to allow global funds to buy more of the nation’s debt.
Sovereign bonds need to have an open, and not a captive market, and the Reserve Bank of India is talking to the government about limits on foreign portfolio investments in debt securities, Governor Raghuram Rajan said Tuesday. Overseas investors added 9.26 billion rupees ($145 million) to their holdings of rupee-denominated corporate and government notes so far this week, besides buying $278.3 million of shares.