MUMBAI (Reuters) - The rupee fell sharply on Thursday as a slump in overseas share markets triggered concerns of increased capital outflows from the local market.
At 9:00 a.m., the partially convertible rupee was at 49.00/15 per dollar compared with Wednesday's close of 48.525/540. It hit a record low of 49.30 last week. Traders said Wednesday evening's cut in cash reserve requirements for banks would provide more room for the central bank to intervene to support the rupee. Ravichandran K. www.kences1.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
