India: Economy grew 4.5% in Q2 vs. 4.7% expected
by Eren Sengezer- Indian economy lost momentum in the second quarter.
- The USD/INR pair continues to trade in daily range despite dismal data.
The data published by the Ministry of Statistics on Friday revealed that the Gross Domestic Product (GDP) in India expanded by 4.5% following the %5 growth recorded in the first quarter and fell short of the market expectation of 4.7%.
Further details of the report showed that the manufacturing sector and the farming sector grew by 1% and 2.1%, respectively, in the same period.
The USD/INR pair largely ignored this data and was last seen trading at 71.7000, adding 0.28% on a daily basis.