Reuters
The Indian rupee pared early gains after jumping to a more-than-two-month high in early trading, following exit poll projections that Indian Prime Minister Narendra Modi's party and alliance will secure a third term with a sizeable mandate, boosting investor confidence. Broad-based interbank dollar sales lifted the rupee in early trades but "importers have barged in," to buy dollars, hurdling the rupee's gains, a foreign exchange salesperson at a private bank said. Weekend exit polls projected the alliance, led by Modi's Bharatiya Janata Party (BJP), to increase its 303 seats in the 543-member lower house of Parliament.