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BW Businessworld

Rupee At Two-Week Low, Tracking Asian Equity Weakness

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The rupee is at a two-week low tracking weak regional equities. The pair is at 62.13/14 versus Thursday's (23 January) close of 61.9275/9375 and intraday high of 62.19, the highest since 9 January.

Local shares fell 0.4 per cent in early trade.

Local shares are under pressure after comments from Reserve Bank of India Governor Raghuram Rajan suggested that interest rates may continue to remain high.

The yen and Swiss franc held firm early on Friday (24 January), having charged higher overnight as worries about a slowdown in China and turmoil in some emerging markets spurred demand for the safe-haven currencies.

(Reuters)


Tags assigned to this article:
economy india rbi news 4 china interest rates raghuram rajan rupee