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Rupee to drop on weak regionals, stocks The rupee is expected to open shakily on Tuesday, weighed down by lower Asian stock markets and weaker regional currencies but likely central bank intervention may trim sharp falls. Asian stocks fell and government bonds rose in a sobering realisation the US takeover of Fannie Mae and Freddie Mac had addressed some risks stemming from the financial crisis but has not solved it. The partially convertible rupee ended at 44.60/61 per dollar on Monday, 0.1 percent stronger than 44.645/655 at close on Friday when it fell to a low of 44.75, a level it last traded on Dec 21, 2006, according to Reuters data. Foreign funds have been net sellers of $7.6 billion worth of Indian shares so far in 2008, a key factor in the rupee's 11.7 percent fall against the dollar. It rose more than 12 percent in 2007, when foreign funds invested a record $17.4 billion. Visit our site at – http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Latest News - http://investorline.co.in/blogger/?q=aggregator/categories/1 News Resources - http://investorline.co.in/blogger/?q=aggregator/sources Newscatcher- http://catcher.investorline.co.in/ Newsgroups- http://groups.google.com/group/india-investor --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
