India's GDP misses expectations with 5.8% – USD/INR rises from the lows

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: