Monday, November 29, 1999

Rupee inches down on weak shares; dollar eyed

News posted by www.newsinfoline.com

The rupee edged lower on Tuesday morning as a weak start to local shares weighed on sentiment, while the dollar's gains against major currencies added to the pressure.* At 9:10 a.m. the partially convertible rupee was at 45.67/68 per dollar, weaker than 45.62/63 at close on Monday, when it had hit 45.77 during trade, its weakest since March 5.* The index of the dollar against six major currencies was up 0.3 percent. However, most Asian currencies were stronger compared to the dollar, helping limit the rupee's drop.* The euro dipped on Tuesday, its trend seen weak despite a rebound from a four-year trough, due to persistent investor jitters over the euro zone's fiscal woes and concerns that austerity steps could hurt the region's growth.* Indian shares fell 0.3 percent early on Tuesday, with financials leading the decline, amid mixed Asian markets.(Reporting by Swati Bhat; Editing by Harish Nambiar)(For more business news on Reuters Money visit http://www.reutersmoney.in)
News posted by www.newsinfoline.com
Click here to read more news from www.newsinfoline.com
Please follow our blogs

newsinfolinephotogallery
prabugallery
newsinfolinephotogallery1

photogallery1

No comments:

Post a Comment