The economy of India grew by an annualized rate of only 5.8% in the fourth quarter of 2018, below 6.3% that was expected and 6.6% recorded in the third quarter.
The Indian rupee has fallen as a response with USD/INR trading around 69.75, up from lower levels seen earlier.
The world’s most-populous nation released other economic indicators earlier. Infrastructure output rose by 2.6% in April while foreign exchange reserves remained stable at $419.99 billion.
Prime Minister Narendra Modi was re-elected with a landslide majority in elections concluded earlier this month.
USD/INR four-hour chart:
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