The rupee fell down by about 42 paisa to a low of 2 year, recording a 48.23 against the US dollar. In the trade world as the weakening euro is a cause of much concern. The European crisis with regard to debt became much acute on account of the downgrading by Standard and Poor of the Italy's sovereign rating. This slide in the Euro against US dollar and on account of the slashing of Italy's rating definitely put much pressure on the Indian rupee, but on account of a higher level opening in the existing equity market did limit the losses... Continue Reading>>
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