FOREX / Currency Trading - Currency Weekly Report-23 July-27 July 2012 in MARKETS - The rupee fell on Friday, snapping three successive weeks of gains, as risk aversion pummeled global risk assets such as ...
07-21-2012 02:51 PM
Currency Weekly Report-23 July-27 July 2012
The rupee fell on Friday, snapping three successive weeks of gains, as risk aversion pummeled global risk assets such as the euro, though buying of the local unit ahead of an auction of debt limits to foreign investors kept losses in check. Worries about India's ability to meet its fiscal deficit target of 5.1 percent and slumping growth have been key factors behind the rupee's slump to a record low late last month. Global risk sentiment will continue to be key for the rupee next week, although investors are also eyeing any possible policy reforms from the government after the presidential election results are out on Sunday.
Domestic Forex Updates:
• Rupee falls on global risk aversion; policy reforms key.
• Euro falls to 11-1/2 year low against Swedish crown.
• Most emerging Asian currencies dip on Spain woes.
• Swiss franc softer against dollar, dogged by debt crisis.
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