Market Outlook – Indian rupee weakened on Monday!

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The Indian rupee weakened on Monday, tracking offshore rates and as month-end dollar demand from importers dragged the currency lower, prompting the central bank to step up its dollar sales in late trade, pulling it off session lows. The outlook for the rupee will likely depend on global developments in the near-term, especially by movements in emerging markets.

RR Financial Consultants‘s insight:

Today’s Headlines

1) Dollar Falls versus Yen before U.S. Durable Goods; Kiwi Advances
2) Aussie Bonds Rise with Currency as Investors Weigh Fed Tapering
3) Euro Seen Snapping Advance on Fed Tapering Bets: Market Reversal
4) Fed Officials Rebuff Coordination Calls as QE Taper Looms
5) Hollande Bids Adieu to EU Vacation Culture as Crisis Lingers
6) ECB Council Members Split in Jackson Hole Over Rate Cuts

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