Advertisement

HindustanTimes Sat,25 Oct 2014

Rupee set to end 2012 with losses despite big inflows

Reuters  New Delhi, December 28, 2012
First Published: 09:41 IST(28/12/2012) | Last Updated: 09:45 IST(28/12/2012)

The rupee is down 3% for the year as of December 26, and is set to end the year with losses.

Advertisement

The rupee is on course to become Asia's third worst performing currency this year: only the Japanese yen and the Indonesian rupiah have posted bigger losses, according to the currencies tracked by Reuters.

The rupee has had a volatile 2012, slumping to a record low of 57.32/dollar in late June, on concerns about India's current account and fiscal deficits.

Although the currency has recovered since mid-September when the government pushed ambitious reforms in retail and aviation, the performance contrasts sharply with the 25% gain in the Sensex this year.

The rupee is down even after the country attracted $24 billion in foreign inflows into stocks, the second highest in the past five years.


Advertisement
more from Business

Fireworks back for FMCG companies this Diwali

With the overall consumer sentiment improving, companies are launching new products, and are finding buyers too. Premium products are selling particularly well, according to executives at several large consumer goods firms.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved