Indian Rupee Leads Asia Gains After RBI Cracks Down on Speculation

The Indian rupee has become Asia’s best-performing currency since the central bank cracked down on speculation late last month, with most positions unwound ahead of Friday’s deadline, traders said.

The currency has gained 2.5% since the first curbs were announced on March 27, outpacing peers such as the Thai baht and South Korean won. The rupee rose 0.2% to 92.4625 per dollar on Friday and is headed for a second straight week of gains.