| Date: |
11-03-2013 |
| Subject: |
Indian Rupee extends gain on Friday - Aditya Birla Money |
|
The Indian Rupee extended gains on Friday, trading around 1-week high against the US dollar. The Rupee appreciated on FII inflows and gains in the equity markets. On a weekly basis, the Rupee gained more than 1% in spot markets.
Data on Industrial Output and Monthly Wholesale Price Index (WPI) is scheduled to be release in the current week. This comes ahead of the Reserve Bank of India (RBI) policy next week.
The Euro tumbled on Friday, with losses accumulating in the US session after news reports stated that Fitch cut Italy's credit rating on political turmoil in the country. The currency fell below 1.300 levels after a stellar rally in the earlier session. The European Central Bank (ECB) left interest rate unchanged at 0.75% as expected in it monetary policy review.
The British Pound also extended losses on Friday as the currency fell below 1.4900 levels. The currency fell to multi-month lows on growth and economic concerns.
Source : equitybulls.com
|