MARKET HEADLINES
Rupee slips to 61.71 against dollar after RBI policy
review
Rupee slipped as low as 61.71 after the RBI policy review before retreating to trade
at 61.59. The pair closed at 61.53/54 on Monday. The RBI kept its key policy repo
rate unchanged at 8.0 per cent on Tuesday.
The dollar is on track to post its biggest monthly gain in over a year. Asian
currencies were trading mixed versus the dollar. Month-end demand from
importers was seen aiding the pair.
Sterling falls to two-week low vs dollar, gains against
euro
Sterling hit a two-week low against the dollar on Tuesday but improved to a more than two-year high against the euro, reflecting the latest leg of a broad-based rally for the US currency that now dates back almost three months. Dealers said Middle Eastern names had been seen buying and then selling the
pound after a mixed bag of data confirmed the British economy expanded strongly
in the second quarter but also showed the country's current account deficit
continuing to grow. By 0919 GMT, sterling was 0.23 per cent lower against the
dollar at $1.6203, having traded as low as $1.6198. It gained just over a third of a
percent against the euro at 77.81 pence.
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