The rupee declined, snapping a two-day advance, on speculation the nation?s refiners stepped up dollar purchases to pay for costlier crude-oil imports after the commodity rose to a two-year high. The currency pared its gains this month to 1.8%, the third-best performance among Asia?s 10 most-traded currencies, after oil prices in New York touched $90.8 per barrel on Wednesday. The currency weakened 0.2% to 45.16 per dollar.
Rupee snaps 2-day gain
The rupee declined, snapping a two-day advance, on speculation the nation?s refiners stepped up dollar purchases to pay for costlier crude-oil imports after the commodity rose to a two-year high.
This article was first uploaded on December twenty-four, twenty ten, at forty-eight minutes past one in the night.