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2. HEADLINES
Rupee down 7 paise against dollar in late
morning deals
The Rupee dropped by seven paise to 55.13 against the
American currency in late morning trade today on mild
dollar demand from banks and importers amid its higher
value overseas. The rupee resumed lower at 55.10 per
dollar as against the last weekend's level of 55.06 at the
Interbank Foreign Exchange (Forex) Market and dropped
further to 55.21 before quoting 55.13 at 1040 hrs.
Persistent dollar demand from banks and importers in
view of its higher value in overseas market mainly affected
the rupee value
TRADING TIPS
Rupee down; seen in tight band as year-end
SELL USD/INR mood sets in
BELOW 54.99 The rupee fell further against the dollar as weak regional
FOR TGT peers and uncertainty over the US “fiscal cliff" weighed.
54.84/54.69 The rupee was at 55.1750/1800 to the dollar, weaker than
Friday's close of 55.06/07 when it had touched a three-
SL 55.14
week low of 55.2550. However, the unit is expected to
PAST
move in a tight band as the year-end lull sets in.
PERFORMANCE
BUY USD/INR REFERENCE RATE
ABOVE 55.17 As on 24TH December 2012
FOR TGT
55.32/55.47 UNDERLYING RATE
USDINR 55.0858
SL 55.02
SL TRIGGERED EURINR 72.6164
GBPINR 89.0958
JPYINR 65.2900
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
5:20am JPY Monetary Policy Meeting
Minutes
7:30pm USD S&P/CS Composite-20 3.9% 3.0%
HPI y/y
8:30pm USD Richmond Manufacturing 12 9
Index
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