Great amount of anxiety in Asia,
USDINR looks to set new record high
Indian rupee recouped its early losses and ended higher against the US dollar on Tuesday soon after central bank sold hefty dollar to restrict rupee’s slide from its near record low. In addition, better than expected German and Euro-zone 1Q GDP encouraged profit booking across the board for the first time after two-straight session fall on Greece political stalemate.
At the end, local currency managed to close at 53.79/80 to the dollar, off from fresh five-month low of 54.07, its lowest level since Dec.15. It had closed at 53.96 to the dollar on Monday.
Indian rupee is set to register gap down opening around $54 against the US dollar tracking sharp overnight gains in US dollar after Greece President Karolos Papoulias announced that the country will hold new elections as talks with party leaders to form a coalition government have failed, raising concerns that the country might exit the euro zone. Soon after the news, the currencies, commodities, equities and precious metal were nosedived heavily in NY session on sparking fear of renewed Euro-zone debt turmoil.
USDINR looks to set new record high
Indian rupee recouped its early losses and ended higher against the US dollar on Tuesday soon after central bank sold hefty dollar to restrict rupee’s slide from its near record low. In addition, better than expected German and Euro-zone 1Q GDP encouraged profit booking across the board for the first time after two-straight session fall on Greece political stalemate.
At the end, local currency managed to close at 53.79/80 to the dollar, off from fresh five-month low of 54.07, its lowest level since Dec.15. It had closed at 53.96 to the dollar on Monday.
Indian rupee is set to register gap down opening around $54 against the US dollar tracking sharp overnight gains in US dollar after Greece President Karolos Papoulias announced that the country will hold new elections as talks with party leaders to form a coalition government have failed, raising concerns that the country might exit the euro zone. Soon after the news, the currencies, commodities, equities and precious metal were nosedived heavily in NY session on sparking fear of renewed Euro-zone debt turmoil.
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