The rupee was trading lower by 13 paise at 62.27 to the dollar, as weakness in the currency persisted following the Fed's decision to taper its QE3 programme.
Dealers say that the Fed decision to taper is likely to have little impact on the forex markets, as the RBI is likely to intervene, should the rupee weaken further.
The rupee had weakened substantially in Sept and had hit a record low of 61.81 against the dollar on fears that the Fed would begin tapering its QE3 stimulus.
However, now that it has actually began there has been no major material impact on the markets. QE3 or bond purchase programme helps to unleash liquidity in the US economy and this money finds its way into emerging market equities. This helps to sustain their currencies on fresh dollar inflows. Read more about QE3 here
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google