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Day: October 10, 2008
October 102008
CAD Weakest since March 2007 on Oil Slump
The Canadian dollar fell to the weakest level against the U.S. dollar in more than 18 months after crude oil and commodity prices fell significantly on speculation that the global demand will decline. This week showed traders the fastest decline of the Canadian dollar against its U.S. counterpart — it lost more than 7.3 percent in three and a half days so far. Last week it depreciated […]
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October 102008
Rupee Falls to Record Low on Rate Cuts
The Indian rupee fell to the new record low level versus the U.S. dollar today as the foreign investors pulled out capital out of the countrys markets amid deepening of the global financial crisis. The rupee has already dropped about 2.6 percent against the dollar this week. The countrys central bank cut the interest rate by 50 percentage points on Monday and additional 100 percentage points […]
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