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Wednesday, October 22, 2008

Rupee falls

Rupee slumped to an all-time low on Wednesday before trimming losses on heavy dollar sales by state-run banks, but a slide in the stock market indicated there would be more pressure on the Indian unit.

Rupee ended at 49.28/29 per dollar, 0.5 percent weaker than Tuesday's close of 49.04/06. It hit a record trough of 49.50, at which point it was down 20.4 percent in 2008.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Apr 08
15:30 NFIB Business Optimism Index 1 97.4 101.3 100.7
18:25 Redbook Index (YoY) 1 7.2% 4.8%
19:30 Ivey Purchasing Managers Index s.a 2 51.3 53.2 55.3
19:30 Ivey Purchasing Managers Index 2 55.6 53.6
21:30 BoE's Lombardelli speech 2
22:30 3-Year Note Auction 1 3.908%
23:30 Fed's Daly speech 2
Wednesday, Apr 09
02:00 API Weekly Crude Oil Stock 1 6.037M
07:30 RBNZ Interest Rate Decision 3 3.50% 3.75%
07:30 RBNZ Monetary Policy Statement 3
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