The Indian rupee slipped today as the signs that the global economic recovery is slowing hurt prospects for currencies of riskier emerging markets and caused the speculation that India’s economy may suffer as export demand would wane.
Great Britain’s economy contracted 0.3 percent in the fourth quarter of the last year, more than was previously estimated (0.2 percent). France’s gross domestic product rose in Q4 2011 with slower pace (0.2 percent) than in Q3 (0.3 percent). US durable goods orders 2.2 percent in February, less than 3.0 percent analysts predicted.
USD/INR rose from 50.7805 to 51.3950 as of 12:28 GMT today. The daily minimum was 50.7350, while the maximum was 51.4250.
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