India’s economy, the second-largest in the world, experienced its slowest growth pace in nearly two years, with a GDP miss that led to the rupee falling to 84.7038 per dollar, a new record low. The decline in economic growth has raised concerns among investors and policymakers. In response, bonds have extended their gains as traders bet on the Reserve Bank of India cutting interest rates sooner than expected to stimulate growth.
Source: https://www.bloomberg.com/news/articles/2024-12-02/rupee-falls-to-new-record-low-bonds-gain-after-growth-slows