India rupee erases year’s losses as investors return and tariffs loom

MUMBAI — The rupee has charged to its strongest position against the dollar this year, helped in part by dollar inflows into India and the return of foreign portfolio investors, though the risk of a setback from expected U.S. tariffs remains.

The rupee is also this month’s best performing major Asian currency, rising over 2% in March as of Tuesday’s close, ahead of peers like the Singaporean dollar, Philippine peso and Malaysian ringgit.