The Troubled Rupee
Rupee at record low as India seen lacking options to brake fall
A top official said the government has options to stem a fall in the rupee but did not offer any specifics, turning the focus on the RBI to stem a rout that sent the rupee to record lows. Full Article
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MARKET EYE-Tata Steel's Canadian deal positive-Deutsche
* Tata Steel Ltd shares flat, outperforming broader NSE index's 0.44 percent fall after a unit on Tuesday agreed to buy a 51 percent stake in an iron ore project held by Canada's Labrador Iron Mines Canada for C$30 million ($29.2 million). * Deutsche Bank sees the deal as a positive development for Tata Steel. * "Apart from gaining access to 14.3 million tonnes of new attributable iron ore resources located adjacent to its existing deposits, the strategic agreement will also help drive synergies in operations and logistics," the bank says. (manoj.dharra@thomsonreuters.com; manoj.dharra.thomsonreuters.com@reuters.net)
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