Currency Update - Market Outlook RR Research

The Indian rupee dropped to its lowest level in 10 months on Wednesday as persistent dollar demand from defence and oil firms weighed while a fall in local shares added to its woes. The Reserve Bank of India plans to allow exporters and importers to cancel and re-book up to 50 percent of their total hedged exposure from the present 25 percent cap. The news was taken as positive for the rupee.

Today’s Key Headlines

• Yen Advances as Kuroda Says Stability Important; Krona Climbs

• Aussie Falls to Lowest Since 2011 as U.S. Yield Spread Narrows

• OECD Forecasts Global Economy to Recover Next Year: Economy

• Liberty Reserve Joe Bogus Account Said to Reflect Evasion

• Rand Slumps to Four-Year Low as Bond Yields Soar on U.S. Growth

http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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