Market News
Rupee's winning streak halts as importers step in, Asian peers slip - REUTERS
MUMBAI, March 25 (Reuters) - The Indian rupee closed lower to halt a nine-day winning run on Tuesday as importers stepped in to hedge liabilities at favourable levels, dollar inflows moderated and the local currency's regional peers slipped.
The rupee ended at 85.7550 against the U.S. dollar, down 0.14% on the day. It had risen to a year-to-date peak of 85.49 on Monday and is up about 2% on the month so far.
Intermittent inflows from overseas portfolio investors and the repatriation of corporate dollar-based earnings ahead of the fiscal year ending March 31 have helped the rupee outpace its Asian peers this month.
