Rupee set to end 2012 with losses despite big inflows
Reuters Market Eye - The rupee is down 3 percent for the year as of December 26, and is set to end the year with losses.
The rupee is on course to become Asia's third worst performing currency this year: only the Japanese yen and the Indonesian rupiah have posted bigger losses, according to the currencies tracked by Reuters.
The rupee has had a volatile 2012, slumping to a record low of 57.32/dollar in late June, on concerns about India's current account and fiscal deficits.
Although the currency has recovered since mid-September when the government pushed ambitious reforms in retail and aviation, the performance contrasts sharply with the 25 percent gain in the Sensex this year.
The rupee is down even after the country attracted $24 billion in foreign inflows into stocks, the second highest in the past five years.
For graphic see: link.reuters.com/ten84t
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
- Lost passenger jet was diverted deliberately: Malaysian PM
- India scours jungle islands for lost Malaysian jetliner
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- Missing Malaysia plane may have run out of fuel over Indian Ocean - source
- Supreme Court rejects Nokia appeal over asset transfer to Microsoft
Investigators believe someone aboard a missing Malaysian airliner deliberately shut off its communications and tracking systems, turned the plane around and flew for nearly seven hours after it vanished, Prime Minister Najib Razak said on Saturday. Full Article | Video
Kalyan Group in talks with investors to sell $200-$250 million stake - sources. Full Article