Rupee Slips To Six Months Low

dxgoofit · 03-17-2008, 10:48 AM

The rupee slipped in early deals on Monday to more than six-month lows as losses in Asian stock markets fuelled concerns of capital outflows.

At 9:15 a.m., the partially convertible rupee was trading at 40.77/78 per dollar -- a level it last tested in early September, weaker than Friday's close of 40.435/445.

Japan's Nikkei index declined more than 4 percent and indices in Seoul and Sydney also fell on Monday after news of the sale of Bear Sterns and the US Fed's discount rate cut heightened worries about credit markets.

03-17-2008, 10:48 AM	#1 (permalink)
dxgoofit Status: Member Join Date: Feb 2008 Posts: 44	Rupee Slips To Six Months Low The rupee slipped in early deals on Monday to more than six-month lows as losses in Asian stock markets fuelled concerns of capital outflows. At 9:15 a.m., the partially convertible rupee was trading at 40.77/78 per dollar -- a level it last tested in early September, weaker than Friday's close of 40.435/445. Japan's Nikkei index declined more than 4 percent and indices in Seoul and Sydney also fell on Monday after news of the sale of Bear Sterns and the US Fed's discount rate cut heightened worries about credit markets.

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