Rupee off highs; global data disappoints
Posted on: 09:33 AM IST Jun 04, 2012
Mumbai: The rupee was marginally weaker on Monday, with the outlook negative as global sentiment, fuelled by weak US non-farm payrolls and Chinese non-manufacturing PMI, continued to hurt risk assets.
At 9:04 am, the partially convertible rupee was at 55.58/60 per dollar, weaker than its 55.54/55 close on Friday.
Europe's debt crisis has frayed nerves around the world for months. Now signs of weakness in the US jobs market and in Chinese factory output give policymakers even more reason to be afraid.