In China, retail inflation (CPI) during March grew at 2.3% on a yoy basis, as food prices jumped 7.6%.
The Indian rupee opened higher by 3 paise at 66.40/$ on Tuesday as against the previous close of 66.43/$. Indian rupee traded on a firm note, deriving cues from weakness in the US dollar against the basket of major currencies. The greenback has lost substantial ground particularly against the Japanese Yen.
In the US, President Barack Obama met Fed Chief Janet Yellen in order to discuss the economic outlook, labour markets, and potential risks to the economy. The prevalent backdrop reveals that consumer spending has slowed down during the first quarter of 2016.
In China, retail inflation (CPI) during March grew at 2.3% on a yoy basis, as food prices jumped 7.6%. Meanwhile, producer prices declined 4.3%, a narrowing contraction compared with 4.9% decline in prices during February.
On Monday, the home currency closed at 66.43/$, up 4 paise. The local unit had hit a high of 66.51 and a low of 66.55. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.39 and for Euro stood at 75.75. The RBI’s reference rate for the Yen stood at 61.53; reference rate for the Great Britain Pound (GBP) stood at 93.7860.
In the US, President Barack Obama met Fed Chief Janet Yellen in order to discuss the economic outlook, labour markets, and potential risks to the economy. The prevalent backdrop reveals that consumer spending has slowed down during the first quarter of 2016.
In China, retail inflation (CPI) during March grew at 2.3% on a yoy basis, as food prices jumped 7.6%. Meanwhile, producer prices declined 4.3%, a narrowing contraction compared with 4.9% decline in prices during February.
On Monday, the home currency closed at 66.43/$, up 4 paise. The local unit had hit a high of 66.51 and a low of 66.55. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.39 and for Euro stood at 75.75. The RBI’s reference rate for the Yen stood at 61.53; reference rate for the Great Britain Pound (GBP) stood at 93.7860.
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