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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture