Important News

Dear Investor,

Re fall widening trade gap, IIP fall partly due to RBI steps

Trade Minister Anand Sharma on Monday voiced concerns over rupee fall that was making imports costlier and widening the trade gap and said the slowdown in industry was partly due to successive rate hikes by the Reserve Bank of India.

Rupee has fallen close to 20% against the US dollar and fanning inflation and adding to the anxiety of Reserve Bank of India, which paused on rate hiking cycle at mid-quarter review last Friday on slowdown concerns especially after industrial output fell 5.1% on-year in Oct.

Base metals mostly fell on the London Metal Exchange Monday as a stronger U.S. dollar and fears over the health of the euro zone's economy damped demand. Investor concern about the health of European economies added to downward pressure on base metals after Fitch Ratings lowered its outlook Friday on France's triple-A rating to negative from stable, and Moody's Investors Service downgraded Belgium's rating by two notches to Aa3.

Gold Falls In Asia On Rebounding Dollar, Eurozone Uncertainty

Gold reversed early gains and slipped to negative territory during Asian trading Monday with traders expecting the yellow metal to move lower in the near-term as investors flock to the safety of the U.S. dollar amid news of North Korean leader Kim Jong Il's death and lingering concerns about ratings downgrades in Europe.

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Rohit Saxena

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Mail Id: simmi9sep@gmail.com

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