India's rupee fell to a record after a U.S. jobs report showing companies hired more workers than economists forecast added to the case for the Federal Reserve to reduce monetary stimulus.
U.S. payrolls rose by 195,000 workers for a second month in June, the Labor Department reported July 5 in Washington, exceeding the 165,000 median estimate in a Bloomberg survey. The Dollar Index, which tracks the greenback against six major trading partners, rose to the highest level since July 2010. Global funds have pulled $7.6 billion from Indian bonds since holdings touched an all-time high on May 21. The currency pared losses on speculation the central bank intervened.
Full article: http://www.bloomberg.com/news/2013-07-08/india-s-rupee-plunges-to-record-as-fed-risk-may-worsen-outflows.html
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