(Bloomberg) -- India's rupee dropped the most in two
months on speculation the central bank is selling the currency
to stem an advance that pushed it to the highest in more than
nine years.
The currency advanced as much as 9.5 percent this year,
making it the best performer in Asia, as investors abroad take
advantage of growth in the region's fourth-biggest economy. A
report tomorrow may show gross domestic product in the quarter
through March grew at the fastest pace in three years. The
central bank may slow the pace of the currency's gains to
protect exporters' earnings.
Read more at Bloomberg Currencies News
months on speculation the central bank is selling the currency
to stem an advance that pushed it to the highest in more than
nine years.
The currency advanced as much as 9.5 percent this year,
making it the best performer in Asia, as investors abroad take
advantage of growth in the region's fourth-biggest economy. A
report tomorrow may show gross domestic product in the quarter
through March grew at the fastest pace in three years. The
central bank may slow the pace of the currency's gains to
protect exporters' earnings.
Read more at Bloomberg Currencies News
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