Indian Rupee Hits Record Low As Confidence In Government Falters

Wochit 1:15 mins

India's rupee hit a record low and posted its biggest percentage fall in 18 years as parliament's approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about government resolve to control spending ahead of elections due next year. Stocks declined broadly in early Tuesday trading as investors feared that the possibility of a U.S. military intervention in Syria could become a reality. According to a private sector report U.S. consumer confidence rose in August as consumers' outlook for the future improved. Japan Post's first full disclosure of earnings showed a solid net profit of $1.64 billions for the April-June quarter, a result that bodes well for the financial giant's plans to start emerging from state ownership. The huge postal, banking and insurance group hopes to list on the Tokyo stock market in 2015 in a mega-offering worth several trillions of yen.

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