Rupee hits 1 week low as risk aversion returns

Tags: Rupee, News
The rupee hits a one-week low of 61.50 in opening trade on risk aversion as tensions in Ukraine flared up and weak China data renewed concerns about global growth. The pair last at 61.42/43 versus Thursday's close of 61.17/18.

The pair up 0.6 percent so far this week, on way to break two weeks of losses.

U.S. retail sales rebounded in February and new filings for jobless benefits hit a fresh three-month low last week, suggesting the economy was regaining strength to push the dollar higher against a basket of currencies.

Data on Thursday showing that China's industrial output growth fell short of forecasts for the January-February period also likely to weigh on regional FX on heightened concerns about the region's economic powerhouse.

Asian shares skidded to a three-week low and the yen held steady at lofty levels on Friday, as heightened tension in Ukraine ahead of a weekend referendum prompted investors to shed riskier assets.

EDITORIAL OF THE DAY

  • It’s time to shift sugarcane production to water abundant states of eastern India

    During the 10 years of UPA rule, the country was able to come out of the so-called sugar cycle — two years of surplus followed by two years of defic

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Simon J Evenett

VW scandal has lessons for Make in India

In recent years, when it comes to widespread corporate wrongdoing, ...

Zehra Naqvi

Do you seek peace or conflict?

The pursuit of peace se­ems to be one of the ...

Dharmendra Khandal

So, how do we define a 'vermin'?

These days there’s an ongoing debate whether to declare various ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture