India’s rupee rose, snapping a two- day decline, on speculation exporters will sell dollars to take advantage of the local currency’s decline to a one-week low yesterday. The Bombay Stock Exchange’s Sensitive Index climbed 1 percent, the most in a week. That raised optimism that overseas investors are buying more of the nation’s assets, said Roy Paul, deputy general manager at Federal Bank Ltd. in Mumbai. “Some exporters may see this as an opportunity to convert earnings because the stock market’s trend is bringing in some positivity for the currency,” he said. The rupee strengthened 0.1 percent to 44.435 per dollar as of 11:08 in Mumbai, according to data compiled by Bloomberg. The currency touched 44.700 yesterday, the weakest since April 7. Offshore forwards indicate the rupee will trade at 45.18 to the dollar in three months, compared with expectations of 45.29 yesterday. Forwards are agreements to buy or sell assets at a set price and date. Non-deliverable contracts are settled in dollars. To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

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