Rupee Volatility Jumps Most Since January as Stock Outflows Rise
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A gauge of expected swings in India’s rupee surged the most in almost three months after overseas investors stepped up sales of the nation’s stocks and on lingering concern that Greece will struggle to meet its debt obligations.
Global funds sold a net $227 million of Indian shares on Monday, the biggest outflow in three months, after data last week showed the trade deficit widened. The Sensex index dropped for a fifth day Tuesday as Greek Prime Minister Alexis Tsipras ordered local governments to move funds to the central bank as he seeks to meet commitments for salaries, pensions and debt.