| Date: |
06-09-2012 |
| Subject: |
Rupee has resistance near 56.15/56.30: Emkay |
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``USDINR would most probably fall towards 55.85. Resistance is near 56.15/56.30. It has to rise above 56.35 to hint at the possibility of strengthening further to 57.3,`` said Emkay Global Financial Services. It further said the following:
The Indian rupee dipped to its lowest level in three weeks on Wednesday, weighed down by losses in domestic stocks and the euro, on skepticism about the European Central Bank`s ability to unveil a concrete plan to help debt-laden euro zone economies.
Oil demand which supported dollar buying also seen yesterday along with the risk aversion globally, which hurt the rupee.
Source : myiris.com
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