India’s rupee fell to a two-week low on concern investors will favor the dollar over emerging-market assets as a pickup in the U.S. economy bolsters the case for further stimulus cuts by the Federal Reserve.
Pakistan’s central bank, commercial banks, stock exchanges and government offices will be closed tomorrow as the nation celebrates the birth of Prophet Muhammad 15 centuries ago. They will reopen on Jan. 28.
Following are forecasts for the Pakistan rupee against the U.S. dollar for Dec. 31. The International Monetary Fund board meets today to approve a loan for Pakistan after the government requested a $6.6 billion facility. The rupee fell to a record 104.90 versus the dollar yesterday.
Siemens AG Chief Executive Officer Peter Loescher will earn about 10 million euros ($13 million) this year, making him one of the highest paid CEOs among German companies, Handelsblatt reported, without saying where it got the information.