REVIEW : The Indian rupee fell against the U.S. dollar, tracking a rally in the greenback and weakness in the global equity markets.
The market fell on the view that global risk aversion may have been imbibed too fast after the European Central Bank move to protect the fall in euro-zone economies.
The spot rupee moved in range of 44.895-45.335, to settle the day at 45.295 losing close to 0.97% as compared to Monday's close of 44.8587.
OUTLOOK : India is due to release the Industrial production figures for March month, remaining unchanged at 15.10% of February month.
The financial markets are very vulnerable to news from the Euro-zone and thus move accordingly.
Weakness in Equity markets is causing capital outflows, pressurizing rupee to trade low. Day ahead, we expect rupee to remain very cautious against the dollar index.
