The Troubled Rupee

An employee uses an electronic machine to check a rupee note inside a bank in Allahabad December 16, 2011. REUTERS/Jitendra Prakash/Files

Rupee slumps to record low; closes in on 60/dollar

The rupee slumped to a record low of 59.9850 on Thursday as India's record high current account deficit is exacerbating its vulnerability in an emerging market rout, although interventions by the Reserve Bank of India (RBI) prevented further falls.  Full Article 

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MARKET EYE-SGX Nifty falls; earnings remain key

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Wed Jan 16, 2013 8:29am IST 

* Nifty futures on the Singapore Exchange falls 0.25 
percent. The MSCI-Asia Pacific index, excluding Japan 
 was flat.  
* Asian shares erased modest gains to edge lower on Wednesday as
cautious investors waited for more clues about the global growth
outlook, while a pause in the yen's declines spurred profit
taking in Japanese equities after their recent rally.  
  
* Foreign investors bought 10.77 billion rupees of stocks, while
domestic institutions sold 7.56 billion rupees of stocks on
Tuesday, when India's BSE index rose 0.4 percent.  
* Until the central bank policy review on Jan. 29, analysts
expect earnings to remain the key drivers for Indian shares.
* Bajaj Auto, India's No.2 motorcycle maker and the
world's largest three-wheeled vehicle company, to report its Q3
results on Wednesday.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
India Markets
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