Indian Rupee continues to fall, hits historic low against US dollar - ZENMoney

Indian Rupee continued the fall to historic low against US dollar after Federal Reserve minutes hinted that the United States was on course to begin tapering stimulus as early as next month and as foreign investors become sellers of Indian stocks. The rumoured RBI intervention along with dollar selling by banks and exporters limited the fall in the Indian Currency.

Euro trading on a firm note against the US Dollar on better-than-forecast euro zone data along with a rise in US jobless claim data. The dollar remained supported after July?s Federal Reserve minutes indicated that the bank is on track to start tapering this year and tracking gains in US Treasury yields.

Yen fell against the US Dollar after the minutes of the Federal Reserve?s July meeting indicated support for tapering along with the upbeat euro zone data which bolstered the outlook for the economic recovery in the region, dampening safe haven demand. The dollar further supported after investors digested weekly US jobless claims data.

Source : Equity Bulls

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