The Indian rupee snapped a four-day gaining streak on Tuesday, retreating from 11-month highs hit in the previous session after oil importers rushed in to buy dollars, while a rally in domestic shares slowed after powerful recent gains. Intervention from the Reserve Bank of India has been capping broader gains for the local currency, dealers said, as the central bank builds up currency reserves and is drafting a game plan to protect the rupee against the sort of rout that alarmed policymakers and investors last year. The partially convertible rupee closed at 58.63/63 per dollar versus 58.59/60 on Monday.
Today’s Headlines
1) Indian Rupee Snaps Four-Day Advance on Dollar Demand
2) Aussie Slides after RBA Minutes as Euro Falls
3) Ruble Gains as Putin Orders Troop Pullback
4) U.K. Bonds Drop a Third Day as Pound Rises After Inflation Data
5) ECB Said to Weigh Fed-Style Meeting Schedule on Policy
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) Indian Rupee Snaps Four-Day Advance on Dollar Demand
2) Aussie Slides after RBA Minutes as Euro Falls
3) Ruble Gains as Putin Orders Troop Pullback
4) U.K. Bonds Drop a Third Day as Pound Rises After Inflation Data
5) ECB Said to Weigh Fed-Style Meeting Schedule on Policy
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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