India Moves to Boost Value of Rupee

The rupee rallied and shares surged on Thursday after India’s new central bank chief unveiled measures to support the ailing currency, providing a shot of confidence for investors unnerved by the country’s worst economic crisis in two decades.
But amid the euphoria over Reserve Bank of India Governor Raghuram Rajan’s energetic Wednesday debut, investors warned he cannot by himself repair an economy mired by slowing growth and a record high current account deficit that has …

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