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Rupee pares losses on Gujarat vote result; other Asian currencies slip


By Christina Martin(Reuters) - The Indian rupee pared nearly all of its sharp losses early on Monday, as it became clear that Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) would comfortably win an election in his home state of Gujarat.Other emerging Asian currencies slipped as the dollar edged up. At around 0350 GMT, the rupee was down as much as 1.1 percent, its biggest intraday loss since May 18, as initial counting showed a close fight between the ruling BJP and the main opposition Congress.Later, three news television channels said the BJP won more than 100 of 182 ...

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First Published: Mon, December 18 2017. 11:31 IST