The Indian rupee managed to gain on the US dollar today despite India’s relatively weak economic growth demonstrated last quarter.
India’s Ministry of Statistics reported that gross domestic product rose by just 5.0% in the April-June quarter. That was the first time of two consecutive quarters of below 6% growth since March 2013. Furthermore, it was the slowest pace of growth in 25 quarters.
USD/INR dropped 0.52% to 71.4063 today.
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