News »Browse Articles » Rupee seen weaker on Asian equity losses

The rupee could weaken on Tuesday as another slide in Asian equities heightens concerns that foreign investors will keep paring risk and repatriating funds.

Asian equity indexes including Tokyo`s Nikkei, Hong Kong`s Hang Seng and Seoul`s Kospi fell on losses on Wall Street and concerns of a global recession. * Foreigners have so far this year sold a net $13 billon of Indian shares after buying a record $17.4 billion last year.

The partially convertible rupee closed at 49.34/36 per dollar on Monday, weaker than Friday`s close of 49.01/03.

Source:
http://in.reuters.com/article/businessNews/idINIndia-36555020081118

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