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

  • Mob rage against the Tanzanian woman betrays racial and gender prejudices

    The mob rage in Bangalore against the Tanzanian woman is a national disgrace from which we can never recover even if we punish the wrong doers.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sachin Shridhar

VIPism is casteism by another name

Much has been written and lamented about the all-pervasive VIP ...

Zehra Naqvi

‘What if the British never came to India?’

Legendary Canadian writer Margaret Atwood proves as elusive to the ...

Bubbles Sabharwal

It's the life in your years that counts

We are all in a sense pilgrim souls enjoying the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture