Some more updates…

Inflation at 12.10% Vs 12.34%

Inflation, for the week ended August 30, slipped marginally to fall to 12.10 per cent. The government's efforts to bring down inflation to tolerable limits and curb runaway prices might have begun to bear some fruit, albeit at a snail's pace. Slightly lower prices of food items like fruits, vegetables and milk pushed inflation down to 12.10 per cent from 12.34 per cent a week ago. Items that pushed up the wholesale prices-based inflation by 0.19 per cent include tea, pulses, cotton yarn and cement. Inflation was 4.24 per cent during the corresponding week last year.

Rupee falls past 45.38, weakest since Nov 2006

The rupee fell to its lowest in nearly two years on Thursday as the dollar strengthened against the euro while a sell-off in Asian stocks raised worries of more outflows from the local share market.

At 9:17 a.m. (0347 GMT), the partially convertible rupee was at 45.41/45 per dollar, its weakest since Nov. 24, 2006 and compared with 45.12/13 at close on Wednesday. Today’s closing is 45.44.

The dollar advanced to a new one-year high against the euro on Thursday as the market's focus reverted to sluggish economic prospects outside the United States and away from concerns about the US financial system.






Sources…

Rediffmail.com
TOI