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Weakened Congress wondering if early elections will help
The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
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Rupee lower; rumoured government-related buying
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A Kashmiri woman walks under a garland made of currency notes on display at a market in Srinagar September 3, 2012.
Credit: Reuters/Fayaz Kabli/fILES
Reuters Market Eye - The rupee is off highs, falls on rumoured buying by a large state-run bank on behalf of the government, say dealers. The pair is at 54.63/64, off 54.40 lows, versus its last close at 54.56/57.
Senior dealer says given the weak rupee fundamentals, importers are seen in a hurry to cover 1-3 months imports after seeing spot trade above 55.35 this week.
November factory data shows minor contraction in activity, also capping rupee gains. (To read full story, click here)
(Reporting by Subhadip Sircar)
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