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S&P affirms negative outlook on India, says chances of downgrade remain
Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday. Full Article
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Rupee opens down on global economic worries
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Indian currency notes are stapled to form a garland at a market in Jammu November 14, 2008.
Credit: Reuters/Amit Gupta/Files
MUMBAI |
MUMBAI (Reuters) - The rupee fell early on Monday as risk aversion took a front seat after sluggish U.S. jobs data last week reignited worries about the health of global economy.
At 9:03 a.m. (0333 GMT), the rupee was at 51.37 to the dollar, weaker than Wednesday's close of 51.055/065. The market was shut on Thursday and Friday for local holidays.
U.S. payrolls rose far less than expected in March, even as the unemployment rate fell to a three-year low of 8.2 percent. Employers added 120,000 jobs last month, the smallest increase since October.
(Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)
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