The Indian rupee declined for straight today and is trading at a
one-month low. It is the worst performer among the Asian currencies,
registering its sharpest fall in nearly two months. The Indian rupee lost 1.2
percent from Nov. 1 to 62.475 per dollar in Mumbai, according to prices from
local banks compiled by Bloomberg. Indonesia’s rupiah weakened 0.7 percent to
11,410, Thailand’s baht fell 0.9 percent to 31.475 and Malaysia’s ringgit
dropped 0.3 percent to 3.1794.
Rupee's 18% fall against US dollar and almost 19% drop against
Euro threatens to put brakes on their royalty binge of recent years. "
Market Wrap
- Indian markets end in red. Nifty, Sensex down by 0.45% and 0.35%.
- Asia-Pacific markets traded weak. Nikkei, Hang-Seng clocked down.
- US ended up. German Ind. Pro. at -0.9%. Dow Futures up by 45 pts.
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