Currency Market Outlook – The Indian rupee breached formidable resistance of 60 to $

The Indian rupee breached formidable resistance of 60 to the dollar to slump to a record low on Wednesday, reinforcing the vulnerability of a country with limited reserves and struggling to narrow a record-high current account deficit. Rupee falls to record low, breaches 60/dollar RBI has been intervening in FX market – dealers Bond yields end at day’s highs, jump on rupee slump.

Today’s Headlines

  • Euro Declines a Sixth Day versus Dollar on Draghi Policy Pledge
  • Lira Set for Week-High as Turkey Plans Fifth Day of Dollar Sales
  • Won Rises Most in a Week as China Concerns Ease; Bonds Climb
  • Rand Pares Worst Quarterly Losing Streak in 12 Years on Exports
  • Yen Strengthens for Fourth Day against Euro Amid China Concern

For detail analysis report please visit: – http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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British Indian 1 rupee, 1917

British Indian 1 rupee, 1917 (Photo credit: Wikipedia)

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