#foreign_exchange

Rupee trading a tad weak at 61.90…

The rupee was trading a tad weak at 61.90 against the dollar at 3.30 pm local time on mild dollar demand from banks and importers.

After opening lower at 61.93 against yesterday’s closing level of 61.91 at the Interbank Foreign Exchange (Forex) market, the rupee moved down further to 61.95 on initial dollar demand from banks on the back of strengthening of the US currency in overseas market.

How…

Global markets…

Globally, a mixed closing on the other Asian markets and a lower opening of the European stocks as a report showed German industrial production contracted the most in more than five years, also negatively impacted sentiment.

European shares fell in early trade on Tuesday after German industrial output fell far more than expected, but losses were limited by gains in mining shares after Rio Tinto…

Forex World…

Indian rupee rose for the fourth consecutive session, boosted by strong foreign fund inflows into the debt and equity markets. However, the local currency fell against the dollar for the week, in line with losses in other emerging Asian currencies.

The local unit fell to a 1-month low in the opening session of the week, but since then it has steadily risen due to hefty foreign fund flows and…

Forex News…

Indian rupee from early losses to close firm against the dollar, following cues from a rally in domestic shares, and despite uncertainty about the outlook for U.S. interest rates that has hit other emerging markets. The U.S. Federal Reserve has pledge to keep interest rates near zero for a “considerable time,” but also indicated that it could raise borrowing costs faster than expected when it…