The falling rupee (inr)
The rupee closed at a two-year low of the 46-level against the US dollar despite intervention from the Reserve Bank of India (RBI). The rupee ended at 46.06/08, much weaker than Friday?s close of 45.75/76 with bankers forecasting that the bottom was still to be reached
It seem there is a lot of dollar demand and high-risk aversion with dollar outflow from equities. All this points to a weaker rupee in the 46.547 region for the next few days.
Anyways a good news for many persons who gets their paycheck from abroad (in USD)...
Bbye
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.."
"You only find out who is swimming naked when the tide goes out"
- Warren Buffet