Epic Research

Thursday, January 31, 2013

Epic Indian Rupee Update

The rupee hit a three-and-a-half month high of 53.22 in opening deals and is currently trading at 53.25/26 versus its Wednesday’s close of 53.30/31 as expectations of dollar inflows for stake sales in state-run firms keep sentiment bearish.
The rupee’s close below 53.34 support exposes 53.06, 61.8 percent of Oct-Nov rally.

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