Indian Rupee Drops Most in More Than a Week on Deficit Concerns

India’s rupee dropped the most in more than a week on concern slowing capital inflows will make it more difficult to finance the nation’s record current-account deficit.

Global funds bought a net $491 million of Indian stocks this month through March 7 after adding more than $4 billion in each of the past three months, exchange data show. The currency strengthened briefly after a government report showed the trade deficit narrowed to $14.9 billion in February from about $20 billion the previous month. Exports rose 4.2 percent from a year earlier, the fastest pace in 12 months. Imports climbed 2.6 percent.