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Friday, October 3, 2008

India Rupee Falls to Five-Year Low as Capital Outflows Escalate

India's rupee slumped to the lowest since 2003 as Asian stocks headed for the worst week in 13 months, adding to speculation investors will take money out the region.

The rupee fell as much as 1.4 percent to 47.295 per dollar, the lowest since May 2003, before trading at 47.16

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.2% 5.4% 5.5% Revised from 5.6%
11:30 ILO Unemployment Rate (3M) 3 4.6% 4.6% 4.5%
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.3% 5.5% 5.6% Revised from 5.5%
11:30 Employment Change (3M) 3 89K 112K
15:30 NFIB Business Optimism Index 1 98.8 95.9 95.8
18:25 Redbook Index (YoY) 1 4.9%
21:00 52-Week Bill Auction 1 3.93%
22:30 3-Year Note Auction 1 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
04:15 Visitor Arrivals (YoY) 1 -8.4%
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