The Indian rupee fell slightly on Monday, retreating from a nearly 10-month high hit earlier in the session, on the back of suspected heavy dollar buying by the central bank ahead of exit polls due out later in the day. Initial gains in the rupee tracked a rally in Indian shares to record highs on widespread hopes that those projections would show the Bharatiya Janata Party and its allies winning a majority in the elections, given the opposition is seen by markets as being more investor friendly. The partially convertible rupee closed at 60.05/06 per dollar compared with 60.02/03 on Friday. The unit gained to as high as 59.51.
Today’s Headlines
1) Asian Euro Near One-Month Low as Citigroup Predicts Drop; Pound Gains
2) Japanese Dump Most Euro Bonds on Record Amid Ukraine Tension
3) Draghi Drives ECB Toward Stimulus Even as Economy Grows
4) Ruble Drops Before Russia Reacts to East Ukraine Secession Votes
Find full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
1) Asian Euro Near One-Month Low as Citigroup Predicts Drop; Pound Gains
2) Japanese Dump Most Euro Bonds on Record Amid Ukraine Tension
3) Draghi Drives ECB Toward Stimulus Even as Economy Grows
4) Ruble Drops Before Russia Reacts to East Ukraine Secession Votes
Find full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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