Standard Chartered’s Sands Sees Less Revenue Drag From Currency

Standard Chartered Plc, the U.K. bank which earns most of its profit from Asia, said currency depreciation in the region will be less of a drag on revenue this year than in 2012.

The Indian rupee fell 3.5 percent last year against the dollar, the currency in which Standard Chartered reports its earnings. The rupee contributed “over half of the drag in income,” Peter Sands, chief executive officer at the London-based lender, told reporters in Hong Kong today.