Dollar Slips Below 66, FIIs Pull Out Money

Date August 27, 2013

The Rupee has closed at 66.12 on Tuesday, the highest exchange rate ever.

Rupee Dollar Short Term

FIIs are starting to pull out. Data till yesterday (SEBI) shows that FII pullouts are now around 11,000 cr. for the month, a lower number than the last month (even through we have four days to go)

Net Monthly FII Investment

But today’s preliminary data from the NSE shows that FIIs sold more than 1,000 cr. in equities just today.

We don’t need FIIs to leave for the dollar to fall – even a minor exit can now cause serious problems with exchange rates, and I’ve noted this over and over …



Original Source: http://capitalmind.in

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