TheG7 summit will be held on May 26-27 at the Ise-Shima national park and the outcome may influence the currency market. Globally, while the Japanese PM Shinzō has stressed the need for fiscal stimulus to boost demand, reports quoted German FinanceMinisterWolfgang Schaeuble as saying that his government has not received specific requests from Japan to deploy additional fiscal stimulus steps. The G7 and the Group of 20 countries have an agreement not to use currenciesforgivingtheircountries a competitive trade advantage, Schaeuble said in an interview with the Nikkei published on Monday, Reuters reported. The domestic NEW DELHI: The rupee fell 9 paise to 66.86 against the US dollar in early trade on Monday with the IMD's latest forecast predicting a delay in the onset monsoon by a week and US retail sales seeing its biggest growth (1.3 per cent) in more than a year.The domestic currency had closed at 66.77 against the greenback on Friday amid sustained demand for the US currency from banks and importers.

Source: Economic Times May 15, 2016 22:15 UTC