Rupee at day's high on euro gains
Reuters Market Eye - The USD/INR at day's low, now at 53.24/35 vs 53.47/48 last close, after the euro recovers from prior falls. RBI is believed to have sold dollars in the morning, according to four dealers.
Exporters' stop losses at 53.50 were triggered after RBI's intervention talk, magnifying the losses in USD/INR, dealers said.
Euro now trading at $1.3011/15 after earlier hitting a three-month low at $1.2955.
Local stocks now down 1.3 percent after falling as much as 1.9 percent.
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
Barack Obama in India
In a glow of bonhomie, U.S. President Barack Obama and Indian Prime Minister Narendra Modi announced a breakthrough on nuclear trade on Sunday, a step that both sides hope will help establish an enduring strategic partnership. Full Article
Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll. Full Article