India’s exports contracted during January, marking the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand.
Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. India’s exports contracted during January, which was the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand. Wholesale prices fell 0.9% during January, registering the contraction for the 15th consecutive month.
In China, the central bank authorities stated that they are committed to stabilize Yuan and will not intentionally devalue in order to gain a trade advantage for the country’s exports.
In Europe, ECB president Mario Draghi stated that the central bank is ready to ease policy next month if financial market turmoil or low energy prices continue to generate deflationary pressures. As a result, Euro lost ground against the greenback, with values tumbling to 1.116 at one point of time.
On Monday, the rupee ended at 68.06/$, 17 paise higher. The currency touched a high and low of 68.25 and 68.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067.
In China, the central bank authorities stated that they are committed to stabilize Yuan and will not intentionally devalue in order to gain a trade advantage for the country’s exports.
In Europe, ECB president Mario Draghi stated that the central bank is ready to ease policy next month if financial market turmoil or low energy prices continue to generate deflationary pressures. As a result, Euro lost ground against the greenback, with values tumbling to 1.116 at one point of time.
On Monday, the rupee ended at 68.06/$, 17 paise higher. The currency touched a high and low of 68.25 and 68.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067.
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