Indian rupee ends lower after Fed’s Yellen speech

Aug 26 2014, 04:51 IST
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SummaryThe rupee fell on Monday, retreating from a three-week high hit last week, as the dollar gained after US Federal Reserve chief Janet Yellen was seen as more hawkish than her European counterpart at a central bankers' meeting.

The rupee fell on Monday, retreating from a three-week high hit last week, as the dollar gained after US Federal Reserve chief Janet Yellen was seen as more hawkish than her European counterpart at a central bankers' meeting.

Most emerging Asian currencies eased on Monday after Yellen called for a "pragmatic" approach to US monetary policy on Friday.

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Some caution also prevailed ahead of GDP data for the April-June quarter on Friday and possibly CAD numbers later this week. However, broader sentiment remained supported by solid foreign flows into bonds and stocks. The rupee closed at 60.57 compared with 60.47 in the previous session.

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