The Indian rupee reached a one-month high yesterday, as the plunging price of Brent crude oil will, in theory, cut the nation’s current account deficit. Having oil at an 11-year low certainly benefits India, which imports three quarters of their oil requirement. As a result, the Rupee strengthened for a fifth consecutive day, and many banks, including ANZ and Morgan Stanley, expect the Indian currency and its economy to outperform other Asian economies in 2016.
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