Indian Rupee Rises Even as Inflation Accelerates

The Indian rupee rose today as nation’s inflation accelerated more than was predicted. This is not necessary a positive thing as the currency has already lost much of its purchasing power and rising consumer prices are hurting the Indians.
The Consumer Prices Index rose 10.09 percent in October from a year ago following the 9.84 percent increase in September. Analysts predicted a 9.9 percent increase. It is possible India’s central bank will take measures to rein inflation even as they may hurt economic growth.
USD/INR fell from 63.7550 to 63.4100 as of 11:17 GMT today.

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