Rupee Falls as China Spurs Worries
The Indian rupee fell today, leading other Asian currencies in losses, as concerns about global economic growth reduced willingness of investors to buy riskier currencies of emerging economies.
China’s inflation slowed from 2.0 percent in August to 1.9 percent in September. The Producer Price Index slid 3.6 percent last month, more than was expected by analysts. The GDP report released later this week and it is expected to be discouraging too. The negative data resulted in the subdued mood on the Forex market.
USD/INR rose from 52.8050 to 53.0150 as of 13:14 GMT today.
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Earlier News About the Indian Rupee:
- IMF Forecast Hurts FX Market, Rupee Weak (2012-10-10)
- Indian Rupee Falls Before European Leaders Meet (2012-10-08)
- Rupee Down as Risk Aversions Makes Appearance Again (2012-07-06)
- Rupee Drops, Can Hurt India's Economic Recovery (2012-05-28)
- Rupee Suffers on EU Summit & Poor Prospects for India's Growth (2012-05-24)