3 percent of India’s stocks fell for the first time on Monday after a rally in the first three months of 2017.
Read moreA surge in oil prices helped lift stocks, but the rupee also fell.
Investors had hoped the rupees would strengthen after the Reserve Bank of India (RBI) announced a major easing of monetary policy to encourage economic growth.
But that plan was delayed until February when the government started raising the ruashions exchange rate.
In India, the ruashing economy is struggling to keep pace with the rapid growth in the number of Indians working.
That has made it hard for businesses to hire and pay employees, leading to an increase in layoffs.