The Troubled Rupee
RBI likely sold dollars after rupee hit record low of 59.93 - dealers
The Reserve Bank of India (RBI) likely sold dollars via state-run banks after the rupee slid to a record low on Thursday, several dealers said, as fears of foreign outflows from India are roiling domestic bond and stock markets. Full Article
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MARKET EYE-SGX Nifty gains; FIIs remain net buyers
* Nifty futures on the Singapore Exchange rose 0.33
percent. The MSCI-Asia Pacific index, excluding Japan
was up 0.15 percent.
* Asian shares consolidated on Thursday as better-than-expected
U.S. earnings lifted sentiment, but concerns over the global
economic outlook and U.S. fiscal problem capped markets.
* Foreign investors bought 10.29 billion rupees of stocks, while
domestic institutions sold 6.91 billion rupees of stocks on
Wednesday, when India's BSE index fell 0.85 percent.
* Traders say the central bank's policy review on Jan. 29 would
take precedence over earning season as the key driver for Indian
shares, especially after the RBI dampened rate cut euphoria.
* Earnings on Thursday: Hero MotoCorp Ltd, Exide
Industries
(abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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