Indian rupee declines after 9-day winning streak

The Indian rupee ended lower on Tuesday after a nine-day winning streak, as importers hedged liabilities, dollar inflows slowed, and regional currencies weakened.

The rupee closed at 85.7550 against the US dollar, a decrease of 0.14 per cent for the day. It had reached a high for the year of 85.49 on Monday and has increased by approximately 2 per cent for the month.

Attribution: Reuters
Subediting: M. S. Salama