Business Standard

Rupee off highs after IIP contracts

The industrial output data shows an unexpected contraction

Related News

falls to 55.1050/11 from a session high of 55.0450 after industrial output data shows an unexpected contraction, but the unit is still higher from its Wednesday's close of 55.42/43.

Dealers says factory data exacerbates concerns about slowing growth, especially after brokerages including Citigroup and CLSA have downgraded their growth forecasts this week.

The BSE Sensex pares gains after the data, but is up 0.2 percent on the day.

Some oil-related buying of dollars seen in the session, one dealer says. Tips 55.05-55.45 band for the rest of the day.

Read more on:   
|
|
|
|

Read More

Rupee gains on better-than-expected GDP, euro rally

The Indian rupee rebounded from session lows to gain for the day after the economy grew more strongly-than-expected in the April-June quarter, while ...

Advertisements

Quick Links

More news from Finance Rss icon

Japan's Mizuho Bank to open branch in Ahmedabad by mid-2015

It will be the first Japanese bank to come up in Gujarat

IFC lends $50mn to PNB Housing Finance

Helps mobilise additional $50mn from other investors

Bank credit growth falls below 10% after 5 years

Bank credit had last grown at a sub-10% rate in October 2009 (9.01%)

Back to Top