The Indian rupee rose to a two-month high on Thursday as first quarter Chinese growth numbers triggered expectations the worst of the global crisis may be over pushing regional stock markets higher.
At 9:22 a.m. the partially convertible rupee was at 49.46/47 per dollar, off an early high of 49.41, its highest since Feb. 17 and stronger than its Wednesday's close of 49.70/71.
China's economic growth slowed to 6.1 per cent in the first quarter from a year earlier, but improvement in data for March suggests that the worst may be over for the world's third-largest economy.
Nifty stock futures in Singapore were trading up 0.3 per cent pointing to a firm local start. One-month offshore non-deliverable forwards were at 49.50/60 per dollar.
The local stock market has rebounded 40 per cent from its 2009 low hit on March 6.
