Indian Rupee Drops to Record After Currency Measures; Bonds Fall India ’s rupee fell to a record and headed for a weekly decline on concern recent steps to steady the currency will prompt foreigners to rethink investment plans amid speculation the U.S. will pare stimulus next month. The Reserve Bank of India on Aug. 14 announced measures to limit foreign-currency outflows from local companies and residents, and boosted efforts to lure investment. U.S. housing starts and consumer confidence data today may stoke speculation the Federal Reserve will trim its bond purchases next month, after jobless claims in the world’s largest economy fell to a six-year low. Indian government bonds fell. The rupee fell as much as 0.9 percent today from Aug. 14 to an unprecedented 62.005 per dollar and traded at 61.87 at 10:29 a.m. in Mumbai, according to prices from local banks compiled by Bloomberg. The currency weakened 1.8 percent this week...
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