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Inflation concerns in India tempered by monsoon season

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Inflation concerns in India tempered by monsoon season

Seasonal rains in India tempered concern inflation will accelerate, and a gauge of expected swings in India’s rupee fell to a six-year low.

Three-month implied volatility, a measure of expected moves in the rupee used to price options, fell 12 basis points to 6.33%, data compiled by Bloomberg show. That’s the lowest since June 2008. In the spot market, the currency was little changed at 60.0950 per dollar during morning trading in Mumbai.

The deficit in the June-September monsoon narrowed to 24% of the 50-year average since June 1, compared with 43% on July 11, the weather department reported July 25. Consumer prices advanced 7.3% in June, the smallest gain in data going back to the start of 2012. Foreign investors pumped more than $5 billion into the nation’s bonds and stocks this month, according to exchange data.

The finance ministry forecasts the economy will expand as much as 5.9% in the year through March 2015, compared with 4.7% in the previous 12 months.

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Mauritius,
J. Balcikonio str. 9,
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Lithuania,

media contact

About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

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Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.