(Bloomberg) -- India's rupee, Asia's second-best
performer this year, may end five weeks of gains on speculation
the central bank will sell it for dollars to protect exporters,
a survey of traders showed.
Dollar purchases by the Reserve Bank of India have helped
stem gains as the local currency last week failed to break 40.34
per dollar after retreating from a nine-year high touched on May
28. The biggest quarterly gain in more than three decades
prompted Infosys Technologies Ltd., India's second-biggest
software maker, last week to pare profit estimates for the year.
Read more at Bloomberg Currencies News
performer this year, may end five weeks of gains on speculation
the central bank will sell it for dollars to protect exporters,
a survey of traders showed.
Dollar purchases by the Reserve Bank of India have helped
stem gains as the local currency last week failed to break 40.34
per dollar after retreating from a nine-year high touched on May
28. The biggest quarterly gain in more than three decades
prompted Infosys Technologies Ltd., India's second-biggest
software maker, last week to pare profit estimates for the year.
Read more at Bloomberg Currencies News
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