Wednesday, August 28, 2013

Epic Research Singapore : News Update

Photo: Rupee hits new low at 66.07/$

The rupee hits another record low at 66.07 per dollar dragging the market lower. The BSE Sensex falls below 18,000 while the Nifty also sinks past 5300. Bnak Nift is down 3 percent from previous close.The Indian rupee was among the hardest-hit of the emerging-market currencies, with the U.S. dollar USDINR +2.2665% rising to an all-time high of 68.01 rupees, up from 66.19 rupees late Tuesday in North America.
 
The Indian rupee hits new all-time lows on problems both foreign and domestic.
The losses for the Indian unit, while carrying on from weakness related to the country’s current account, also tracked rising expectations that the U.S. will launch a military strike against Syrian government forces.

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