India's Rupee Declines on Outflow Concern Before Yellen Speech
This article is for subscribers only.
India’s rupee halted a two-day gain on concern demand for local assets will weaken as the U.S. Federal Reserve considers raising interest rates.
Most Asian currencies dropped amid speculation Fed Chair Janet Yellen will defend the reasoning behind a possible liftoff in December in her speech to The Economic Club of Washington on Wednesday. Foreign holdings of rupee-denominated debt are poised to fall for a third straight week while Indian stocks are set for a fourth week of withdrawals. Sovereign bonds declined on Wednesday.