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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
Wednesday, Apr 09
20:00 EIA Crude Oil Stocks Change 1 2.553M 2.200M 6.165M
20:45 Fed's Musalem speech 2
21:15 Fed's Barkin speech 2
22:30 10-Year Note Auction 1 4.435% 4.310%
23:30 FOMC Minutes 3
Thursday, Apr 10
04:31 RICS Housing Price Balance 1 8% 11%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Initial Jobless Claims 2 223K 219K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
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