Rupee falls to historic low against US dollar - ZENMoney

Rupee fell to historic low against US dollar despite of sporadic RBI intervention in both the spot and forward markets on heavy dollar demand from importers and as traders fretted over mixed signals from the Federal bank over its efforts to prop up the currency without choking off economic growth.

Euro fell against the US Dollar after supportive US July existing home sales data. The US dollar further supported after minutes of the Federal Reserve's meeting in July suggested that the U.S. central bank was still on track to taper its asset-buying program next month.

Yen fell against the US Dollar after minutes of the Federal Reserve's meeting in July suggested that the U.S. central bank was still on track to taper its asset-buying program next month. The yen further pressurised after Bank of Japan Governor Haruhiko Kuroda said that he will not hesitate to provide further monetary stimulus if downside risks to the economy increased.

Source : Equity Bulls

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