Indian Rupee in Longest Run of Gains Since 2012 as Dollar Slides
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India’s rupee rose for a sixth day in its longest winning streak since 2012 after global funds boosted holdings of local assets and the U.S. dollar weakened.
A gauge of the greenback’s strength extended losses Monday after dropping the most since October 2011 last week as banks including HSBC Holdings Plc said the currency’s surge since August is coming to an end. Overseas funds have bought a net $1.7 billion of Indian bonds and stocks this month through March 19, taking total 2015 inflows to $11.9 billion, data compiled by Bloomberg show. Sovereign rupee notes declined.