MARKET HEADLINES
Rupee at two-month
low of Rs 62.80 against dollar in
early trade
The rupee weakened
further by 25 paise to trade at a fresh two-month low
of Rs 62.80
against the US dollar in early trade today at the Interbank
Foreign
Exchange due to rise in the greenback's value against other
currencies overseas.
Dealers attributed the fall in rupee to
dollar's gains against other
currencies overseas and a lower opening
in the domestic equity market.
The Indian rupee had lost 39 paise to
close at a two-month low of 62.55
against the American currency
yesterday after better-than-expected jobs
data spurred expectations
of an early hike in US interest rates.
Euro sinks close
to 12-year low versus dollar
The euro tumbled on
Tuesday towards a 12-year dollar low, hit by
eurozone stimulus,
growing US rate hike speculation and Greek debt
concerns, dealers
said.
In morning London deals, the European single currency sank to
$1.0735 -
- the lowest level since mid-April 2003. The region's stock
markets were
lower.
The dollar neared an eight-year high against
the yen as dealers bet on an
interest rate hike from the Federal
Reserve after bright US payrolls data.
The greenback surged in Asian
trading hours to a high of 122.03 yen, a
level not seen since July
2007. It later stood at 121.65 yen in London.
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