Rupee Has Longest Losing Streak in Five Years as Stocks Retreat
- Rupee fell 0.1% after gaining as much as 0.3% earlier
- Currency in longest losing streak since November 2011
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India’s rupee fell for an eighth day, the longest losing streak since November 2011, on speculation oil companies stepped up dollar purchases to make overseas payments and local stocks fell.
The rupee declined 0.1 percent at 67.4950 per dollar in Mumbai, prices from local banks compiled by Bloomberg show, after rising as much as 0.3 percent earlier. The benchmark S&P BSE Sensex index of shares fell 0.3 percent, after advancing as much as 0.9 percent.