India’s rupee fell for a second day against the dollar, which was buoyed by signs of a compromise among U.S. lawmakers that could avert an unprecedented default in the world’s biggest economy.
India’s rupee declined to the lowest level in a week on concern slowing global growth will damp demand for the nation’s equities.
India’s rupee ended three days of gains on speculation the central bank is intervening to prevent a stronger currency from hurting a revival in the economy.
"Strong inflows continue to lend support to the rupee."
- Paresh Nayar on Jan 08, 2015