Evening report-jul 08

Indian rupee declined against the greenback on expectations of more capital outflows. Rupee recouped most losses against U.S. dollar as banks liquidated long dollar positions noting persistent dollar sales from government-owned banks. U.S.dollar inched up supported by a drop in oil prices , but renewed credit worries limited its gains.Euro slipped lower against the dollar as markets mulled lower industrial production numbers out of Germany and Britain.U.S. dollar traded in a narrow range of 106.7-107.3 .British pound showed weakness against the US dollar as survey showed a serious risk of recession in the UK, with some results reaching record low levels in both manufacturing and service sectors.yen as a decline in stocks prompted investors to flee from carry trade activity