Rupee Climbs Most in 27 Years

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Emerging-market stocks rose as oil slumped on easing prospects for an imminent military attack on Syria. Indonesia’s rupiah gained after a surprise interest-rate increase, while India’s rupee jumped the most since 1986.

The MSCI Emerging Markets Index advanced 1.2 percent to 920.84, capping the biggest increase in about five weeks. Philippine stocks climbed from an eight-month low as economic growth exceeded estimates. The rupiah rebounded from a four-year low after Bank Indonesia raised its benchmark interest rate in an unscheduled move, while India’s rupee strengthened 3.4 percent. Mexico’s IPC index declined for a seventh consecutive day in the longest slide since January 2009.