INR stays volatile, Market awaits for China's trade balance
Indian rupee posted its biggest percentage drop in nearly five-months against the US dollar on Wednesday as losses in domestic shares combined with mounting concern over Greece political stalemate encouraged investors to prefer safe haven US dollar.
By the end of the day, the partially convertible rupee lost 1.32% to settle near day’s low at 53.83 per dollar, its biggest daily percentage loss since Dec. 12. On Tuesday, It had closed at 53.14/15.
Indian rupee is likely to open slightly lower to flat against the US dollar on risk-off environment persists in Asia as the ongoing political uncertainty in Greece coupled with growing fear about Spain’s borrowing cost after 10-year yield jumped 6.09%- up 22bps on Wednesday.
Indian rupee posted its biggest percentage drop in nearly five-months against the US dollar on Wednesday as losses in domestic shares combined with mounting concern over Greece political stalemate encouraged investors to prefer safe haven US dollar.
By the end of the day, the partially convertible rupee lost 1.32% to settle near day’s low at 53.83 per dollar, its biggest daily percentage loss since Dec. 12. On Tuesday, It had closed at 53.14/15.
Indian rupee is likely to open slightly lower to flat against the US dollar on risk-off environment persists in Asia as the ongoing political uncertainty in Greece coupled with growing fear about Spain’s borrowing cost after 10-year yield jumped 6.09%- up 22bps on Wednesday.
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