(Bloomberg) -- India's rupee may advance for a
seventh week on expectations overseas investors will buy more
local stocks, a survey of currency traders showed.
The rupee last week closed at a nine-year high as net
purchases of shares by global funds so far this year surpassed
that for all of 2006, pushing the benchmark stock index to a
record. The fastest pace of growth in almost two decades is
prompting lenders such as HDFC Bank Ltd. to raise funds abroad
to meet local demand for loans.
Read more at Bloomberg Currencies News
seventh week on expectations overseas investors will buy more
local stocks, a survey of currency traders showed.
The rupee last week closed at a nine-year high as net
purchases of shares by global funds so far this year surpassed
that for all of 2006, pushing the benchmark stock index to a
record. The fastest pace of growth in almost two decades is
prompting lenders such as HDFC Bank Ltd. to raise funds abroad
to meet local demand for loans.
Read more at Bloomberg Currencies News
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