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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
Friday, Jun 20
18:00 Fed's Waller speech 2
18:00 New Housing Price Index (YoY) 1 -1.0% -0.6%
18:00 New Housing Price Index (MoM) 1 -0.2% -0.2% -0.4%
18:00 Raw Material Price Index 1 -0.4% -0.8% -3.3% Revised from -3.0%
18:00 Industrial Product Price (MoM) 1 -0.5% 0.0% -0.8%
n/a Fed Monetary Policy Report 2
22:30 Baker Hughes US Oil Rig Count 1 439
Sunday, Jun 22
22:45 Fed's Daly speech 2
Monday, Jun 23
04:30 S&P Global Services PMI 2 50.6
04:30 S&P Global Manufacturing PMI 2 51
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