Indian rupee drops as stocks outlook

MUMBAI - The rupee edged lower on Monday, as losses in other regional share markets raised expectations of outflows from local stocks, with the dollar’s strength overseas also weighing.

By (Reuters)

Published: Mon 27 Apr 2009, 10:46 AM

Last updated: Thu 2 Apr 2015, 8:29 AM

  • At 9:10 a.m. the partially convertible rupee was at 50.02/04 per dollar, weaker than its previous close of 49.81/82.
  • The Nifty futures traded in Singapore were down 1.2 percent, indicating a weaker start to domestic shares.
  • Shares have risen more than 40 percent from their 2009 low hit on March 6, and foreign buying of shares has been a key factor lifting the rupee off a record low of 52.2 in early March.
  • The yen and the dollar rose on Monday, and the Mexican peso fell on concern about the spread of swine flu, which has killed many people in Mexico and infected people in the United States and Canada.

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