RTTN: Indian Rupee Slides To More Than 2-month Low Against US Dollar
(RTTNews) - Extending its 2-day losing streak, the Indian rupee slipped below the 46.10 level against the US dollar on Tuesday in Asia for the first time since September 20. On the downside, 46.63 is seen as the next likely target level for the Indian currency. The dollar-rupee pair settled Monday's deals at 45.9050.
In the equity front, the 30-share BSE Sensex is trading lower at 19,282, down about 125 points or 0.64%, weighed by steep losses in the Chinese market, a strengthening dollar and concerns over Europe's sovereign debt woes. The broader Nifty is down 0.27%.
The Indian economy grew more than expected in the September quarter, official figures showed today.
Gross domestic product rose 8.9% on a yearly comparison during July to September, the Central Statistical Organisation said. The growth rate was bigger than the consensus forecast of 8.2%. The growth rate for April to June quarter was revised to 8.9% from 8.8%.
