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Important Data:
Indices Closing 12-Aug-11 11 269 2 508 1 179 5 320 5 997 8 963 19 620 2 594 16 840 5 073 74.6 Commodities Nymex Crude ($/barrel) Brent Crude ($/barrel) Gold ($/ounce) Silver ($/ounce) Currencies GBP-USD EUR-USD USD-JPY USD-RMB USD-INR Closing 12-Aug-11 85 108 1 746 39
Dow Jones Nasdaq S&P 500 FTSE 100 Dax Nikkie 225 Hang Seng Shanghai composite Sensex 30 Nifty 50 US dollar index
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News Notes
Royal Bank of Scotland reported loss of GBP 897 million in the second quarter (April-June 2011) due to Greek debt write-down. RBS made a provision of GBP 733 million for Greek government bonds. The Economist says that Indian Rupee is undervalued by 53 per cent against the US dollar, as per the Big Mac Index-July 2011. Chinese currency Yuan is undervalued by 44 per cent, while Mexican and Russian currencies are undervalued by 33 and 34 per cent respectively. Brazil and Argentina are overvalued by 52 and 19 per cent respectively. The Big Mac index is developed by The Economist 25 years back and uses the price of McDonalds burger in different countries to build the index. The Prime Ministers Economic Advisory Council (PMEAC) has asked the Indian Government to take active measures to improve investment climate and go ahead with unfinished economic reform agenda.
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