 |
The rupee is expected to weaken for a second consecutive session on Tuesday, tailing lower Asian equities and a shaky euro.
* Heightened concerns the United States may face a recession after a very bleak jobs report last week will also weigh on the rupee.
* Traders expect the rupee to open around 46.05-46.10 per dollar and weaken to as much as 46.20 on bunched dollar outflows following a US financial market holiday on Monday. It had ended at 0.4% weaker at 45.985/995 on Monday.
* Asian shares fell and the euro slipped on Tuesday on worries Europe's deepening debt crisis could trigger a banking crisis.
* At 0254 GMT, the euro was at USD 1.4078, down from USD 1.4122 when the rupee closed on Monday, while the index of the dollar against six major currencies was at 75.218 points from 75.056 previously.
* The MSCI index of Asian stocks ex-Japan was down 1.08% and the Nifty India stock futures traded in Singapore were 0.81% lower, suggesting a weaker start to the local equities.
No comments:
Post a Comment