Rupee falls as much as 61.11, the lowest since August 14
The fall in retail inflation rates was good news, though food inflation, the bugbear of the inflation syndrome, is still high.
Mumbai: The rupee falls as much as 61.11, the lowest since August 14. Last trading at 61.04 versus Friday's close of 60.65/66.
Rupee falls track weaker emerging Asian currencies. Data on Saturday showed China's factory output grew at the weakest pace in nearly six years. Traders cite sustained dollar buying from foreign banks. USD/INR pares some gains after RBI Governor Rajan comments.
Rajan said India's macroeconomic indicators are improving and inflation has been coming down.
( Source : reuters )
Next Story
