| Date: |
02-07-2012 |
| Subject: |
Rupee/dollar little changed; seen range-bound |
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The rupee is at 55.63/64 versus its previous close of 55.6050/6150 to the dollar. The Indian currency touched a high of 55.50 in early trade, but has moved lower since. Traders say marginally weak domestic equities are weighing on the rupee with expectations for the pair to hold in a 55.50-55.80 range during the day.
The euro dipped on Monday, giving up a bit of ground after its biggest one-day rally in eight months, as investors looked for fresh reasons to extend a rally sparked by the initial euphoria over the latest European push to ease the region's debt crisis.
Source : economictimes.indiatimes.com
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