In China, banks extended a record high 2.51 trillion Yuan (US$385.4bn) of new loans in January, well above expectations.
Indian Rupee opened lower by 12 paise at 68.49/$ in early trade on Wednesday as against the previous close of 68.37/$. It fell to September 2013 lows of 68.58 against the dollar. On Tuesday, rupee weakened against the greenback, impacted by the sell‐off in domestic equities, strength in US dollar against the basket of major currencies also weighed on the emerging market currencies. In this respect, US dollar index has moved above close to 97 levels. Meanwhile, Indian rupee is quoted around 68.55 levels in the overseas NDF markets at the time of writing this report.
In China, banks extended a record high 2.51 trillion Yuan (US$385.4bn) of new loans in January, well above expectations. However, the spike was mostly attributable to increased cash injections made by the central bank ahead of the New Year holiday.
On Tuesday, the rupee ended at 68.37/$, 30 paise weaker. The currency touched a high and low of 68.25 and 68.57 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.33 and for Euro stood at 76.24 on February 16, 2016. While, the RBI’s reference rate for the Yen stood at 59.68, the reference rate for the Great Britain Pound (GBP) stood at 98.4312.
In China, banks extended a record high 2.51 trillion Yuan (US$385.4bn) of new loans in January, well above expectations. However, the spike was mostly attributable to increased cash injections made by the central bank ahead of the New Year holiday.
On Tuesday, the rupee ended at 68.37/$, 30 paise weaker. The currency touched a high and low of 68.25 and 68.57 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.33 and for Euro stood at 76.24 on February 16, 2016. While, the RBI’s reference rate for the Yen stood at 59.68, the reference rate for the Great Britain Pound (GBP) stood at 98.4312.
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