Thursday, 5 September 2013

India rupee and markets up as Rajan boosts confidence




Indian currency and stocks have jumped a day after the country's new central bank chief took charge and promised tough action to boost growth.

The Indian rupee, one of the world's worst performers this year, rose 2.3% against the US dollar.

India's main stock index, the Sensex, closed up 2.2% on Thursday.

On Wednesday, Raghuram Rajan unveiled a series of measures aimed at propping up the currency and liberalising the country's banking sector.

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