Indian Rupee Near 9 Month Low

The rupee came within striking distance of a nine-month low on Tuesday on heavy defence-related buying of dollars, although exporters helped prevent a bigger slide by selling the greenback.
The rupee dropped to as low as 55.9950, just short of breaching the 56.01 level touched last Thursday, which had marked the currency’s weakest level against the dollar since early September 2012.
The rupee has fallen heavily this month despite huge foreign inflows into stocks and debt amidst a global rally in the dollar and concerns about India’s current account deficit.

via Yahoo

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza