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2. HEADLINES
Rupee reverses gains; oil demand boosts dollar
The rupee extended its losses to 55.58/59 versus its
close of 55.53/54 after hitting 55.37, the highest in over
a week, on the back of dollar demand from oil firms.
Traders said absence of any large dollar inflows
following a US holiday on Monday is adding to the
upward pressure on the the rupee.
TRADING TIPS
Rupee edges up; euro strength weighs
Buy EUR/INR Above The rupee is trading at 55.41/42 after hitting 55.37, its
highest in over 1 week, and compared with 55.53/54 at
70.29 for targets of close on Monday. Euro nears a two-month high hit
against the dollar last week, supported by hopes the
70.45/70.70
European Central Bank will soon unveil details of a
Stop loss 70.05 plan to tackle the region's debt crisis.
RBI REFERENCE RATE
As on 4th September 2012
PAST
PERFORMANCE UNDERLYING RATE
USDINR 55.5360
Buy EUR/INR Above
EURINR 70.0190
70.04 for targets of
GBPINR 88.2300
70.19/70.34
JPYINR 70.8500
Stop loss 69.84
Target achieved
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
2:00pm GBP Services PMI 51.50 51.0
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