Market Outlook- Currency Update Rupee Hits on Lowest rate up to 60.96

The Indian rupee fell on Friday to approach a record low on sustained dollar demand from importers, forcing the central bank to intervene to support the currency. The Reserve Bank of India was cited selling dollars via state-run banks after the rupee fell to the day's low of 60.59, not far from its life low of 60.76 touched on June 26. Rupee falls for a 9th successive week, down 1.4 pct.

Today’s Headlines

1)      Dollar Rises Second Day versus Euro before Payrolls; Krone Drops

2)      Payroll Gains in U.S. Probably Sustained as Confidence Improved

3)      Pound Declines to Three-Month Low versus Dollar on Rates Outlook

4)      Vietnam’s Bonds Drop as Funds Withdraw on Devaluation Concern

5)      Rand Climbs Second Day against Euro on 7ECB, BoE Stimulus Signals

For detail analysis report please visit: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf