Indian Rupee May End Three Weeks of Gains on Central Bank Currency Sales

(Bloomberg) -- India's rupee may decline, ending three
weeks of gains, on speculation the central bank will sell the
currency to stem an advance that pushed it to the strongest in
nine years, a survey of traders showed.

The rupee, Asia Pacific's best performing currency this year,
pared gains last week on concern the central stepped up dollar
purchases after the trade deficit widened to a record. The Reserve
Bank of India may seek to protect exporters' earnings being eroded
by a stronger currency.


Read more at Bloomberg Currencies News