Arab Today, arab today outflow fears spur indian rupee’s biggest decline in 3 weeks
Last Updated : GMT 21:08:05
Arab Today, arab today
Arab Today, arab today

Outflow fears spur Indian rupee’s biggest decline in 3 weeks

Arab Today, arab today

Arab Today, arab today Outflow fears spur Indian rupee’s biggest decline in 3 weeks

The rupee weakened for a third day, retreating 0.6 percent to 67.14 a dollar in Mumbai.
New Delhi - Arab Today

India’s rupee posted its biggest decline in more than three weeks on concern foreign funds will cut equity holdings after losses in local stocks deepened.
The S&P BSE Sensex index of Indian shares slumped 0.9 percent, taking its three-day drop to 2.3 percent, as demand for emerging-market assets waned amid concern about the outcome of the "Brexit" vote and before this week’s central bank meetings in the US and Japan. Consumer-price gains in India probably accelerated to a four-month high of 5.6 percent in May, a Bloomberg survey showed before official data due later on Monday.
The rupee weakened for a third day, retreating 0.6 percent to 67.14 a dollar in Mumbai, according to prices from local banks compiled by Bloomberg. That’s the biggest drop since May 19 and took its loss in 2016 to 1.5 percent, Asia’s worst performance. The currency may decline to as low as 67.80 in the coming months, according to Edelweiss Financial Services Ltd.
“Investors are nervous ahead of big events such as the Federal Reserve meeting and the UK referendum,” said Ankur Jhaveri, co-head of currency and rates at Edelweiss Financial Services in Mumbai. “That’s driving them toward safe-haven assets. We see the rupee depreciating more given the global uncertainties.”
Foreign investors bought $32.8 million more Indian shares than they sold on Friday, the smallest inflow in four days, data compiled by Bloomberg show. They have poured a net $2.81 billion into local equities in 2016. Recent polls indicating the UK’s June 23 referendum on EU membership is too close to call is spurring fear in global investors already on the edge given the monetary-policy reviews in the US and Japan.

Indian sovereign bonds dropped ahead of the inflation data. The yield on notes due January 2026 climbed three basis points to 7.53 percent, its highest close since March 16, according to prices from the central bank’s trading system. That’s the biggest advance since April 21.

Source : Arab News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today outflow fears spur indian rupee’s biggest decline in 3 weeks Arab Today, arab today outflow fears spur indian rupee’s biggest decline in 3 weeks

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday