• Indian rupee opened at record low of 64.90 per dollar on the back of bank's heavy dollar demand and
poor market sentiments as it hit a fresh all-time low of 65.58 during intraday trading.
• Rupee fall was exaggerated after EM currencies sold off heavily in the aftermath of Yesterday's Fed
minutes, which confused the markets, not giving timing on tapering.
• The Manufacturing PMI print in the euro area expanded to 51.3 for the month of August, surpassing
both forecasts and July's reading at 50.6 and 50.3, respectively. The Services sector also bettered to
51.0 from 49.8 previous.