| Wall Street Journal | - |
MUMBAI—The
Indian rupee remained locked in a downward spiral on Tuesday, falling
to a fresh low against the greenback for the third consecutive session
amid rising expectations that the U.S.
Rupee Falls to Fresh Low
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Divyakant Solanki/European Pressphoto Agency
A file photo showing Indian rupee and U.S. dollar currency notes.
The local unit has lost nearly 16% against the U.S. dollar since the start of May, reflecting investors' concerns that India will struggle to fund its current-account deficit when developed countries roll back their easy-money policies.
The rupee's sharp slide has spilled over into other local assets such as shares and government bonds over the past few sessions. The Bombay Stock Exchange's Sensitive Index was trading 1.8% down on Tuesday, after having fallen more than 6% over the previous two sessions.
end quote from:
Rupee Falls to Fresh Low
more in World Markets
»
Divyakant Solanki/European Pressphoto Agency
A file photo showing Indian rupee and U.S. dollar currency notes.
The local unit has lost nearly 16% against the U.S. dollar since the start of May, reflecting investors' concerns that India will struggle to fund its current-account deficit when developed countries roll back their easy-money policies.
The rupee's sharp slide has spilled over into other local assets such as shares and government bonds over the past few sessions. The Bombay Stock Exchange's Sensitive Index was trading 1.8% down on Tuesday, after having fallen more than 6% over the previous two sessions.
end quote from:
http://online.wsj.com/article/SB10001424127887324747104579023823055903620.html
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