(Bloomberg) -- India's rupee rose on speculation
exporters will take advantage of a slump in the currency last
week to convert their foreign-exchange earnings.
The rupee last week had the biggest drop since the five days
through May 19, 2006. The decline boosts the value of export
earnings in local-currency terms. The descent ended the rupee's
run as the best-performing currency in Asia-Pacific this year,
reducing gains to 8 percent.
Read more at Bloomberg Currencies News
exporters will take advantage of a slump in the currency last
week to convert their foreign-exchange earnings.
The rupee last week had the biggest drop since the five days
through May 19, 2006. The decline boosts the value of export
earnings in local-currency terms. The descent ended the rupee's
run as the best-performing currency in Asia-Pacific this year,
reducing gains to 8 percent.
Read more at Bloomberg Currencies News
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