Business Daily from THE HINDU group of publications
Thursday, Jul 09, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Jul 09, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Money & Banking
-
Forex Rupee slips on fears of capital outflows 
Our Bureau Mumbai, July 8 The rupee depreciated by 43 paise against the dollar on Wednesday on fears of capital outflows. The domestic currency opened lower at 48.75 and weakened to touch an intra-day low of 48.94. It closed at 48.89, as against the previous close of 48.45. The rupee opened with losses tracking the capital outflows from the equity markets and this affected sentiments, said a dealer with a public sector bank. The dollar’s strength against other major currencies in the overseas markets and dollar demand from oil importers put pressure on the rupee. Sentiments were also affected after Standard & Poor’s said that India’s high fiscal deficit is not sustainable in the medium term. If the fiscal consolidation is delayed, there is a risk that the India’s sovereign credit ratings may be lowered, S&P said. In the forward premia market, there was not much movement and the premiums closed unchanged. More Stories on : Forex
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|