Rupee Rout Dims Hopes of a Strong Recovery in Indian Stocks
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The Indian rupee’s slide to repeated record lows is finally starting to pinch the equity market, with analysts warning that prolonged weakness could undermine confidence in the nascent recovery of the $5.2 trillion stock market.Asia’s worst-performing currency this year is emerging as a near-term threat to a rebound in Indian stocks, despite strong economic growth and a revival in corporate earnings. In December, global funds have withdrawn $1.6 billion from local equities, reversing $1.3 billion of inflows over the prior two months. They have also pulled money from local debt.