| Date: |
29-11-2012 |
| Subject: |
Rupee may trade strong today: Emkay |
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``USDINR is expected to face resistance near 56.00 and should appreciate towards 55 in coming days,`` said Emkay Global Financial Services.
The partially convertible rupee closed at 55.45/46 per dollar up 0.5% versus its previous close of 55.73/74 on Monday.
Buying from oil refineries being month end supported the pair and prevented it to fall further.
We expect Indian rupee to be strong today as weaker dollar internationally however market might wait to see the quarterly GDP data of US today and India tomorrow.
Source : myiris.com
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