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HindustanTimes Mon,21 Apr 2014

Rupee, shares extend falls on geopolitical worries

Reuters  Mumbai, September 03, 2013
First Published: 09:22 IST(3/9/2013) | Last Updated: 15:13 IST(3/9/2013)

Rupee and shares extended losses in the afternoon session on Tuesday after the Russian defence ministry was quoted by a news agency as saying it had detected two ballistic "objects" fired towards the eastern Mediterranean.

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Russian radar detected two ballistic "objects" that were fired towards the eastern Mediterranean from the central part of the sea on Tuesday, state-run news agency RIA quoted the Defence Ministry as saying. The Defence Ministry declined immediate comment to Reuters.

The partially convertible rupee dropped as much as 3.1% to 68.12 per dollar while the NSE share index dropped more than 3 percent.

The benchmark 10-year bond yield rose 10 basis points to 8.52%after the news. It had closed at 8.46% on Monday.

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