Indian economy to expand by 5% in FY 2019-20

India's economy is expected to expand by 5% in the fiscal year ending in March, the Indian government reported on Tuesday, compared to the 6.8% growth registered in the previous fiscal year, as reported by Reuters.

Last month, the Reserve Bank of India lowered its growth forecast to 5% as well, citing concerns over global economic recovery and weakening demand.

The USD/INR pair largely ignored this publication and continues to trade in the negative territory. As of writing, the pair was down 0.1% on a daily basis at 71.794.