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 Posted: Tue 6:40, 10 May 2011 Post subject: India Rupee Gains aboard Optimism Global Economic |
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Indias rupee advanced, snapping a three-day decline, as additions in U.S. corporate profits fueled optimism the global economy resumption namely on pathway, shoving claim for emerging-market assets.
The rupee strengthened the maximum in a week as the MSCI Asia Pacific Index of regional shares advanced 0.2 percent. Overseas investors bought $1.8 billion more Indian shares than they sold this month as U.S. companies, including Apple Inc. and Ford Motor Co., reported earnings that knock analysts estimates.
Theres more optimism cross the worlds fiscal markets for the U.S. corporate results have been nice and thats a good sign as the global economy, said Vikas Babu, a currency merchant at Data recovery in Mumbai. Capital streams have been mighty and thats the cardinal patronize for the rupee.
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