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Rupee can move to 58 if breaks 52, says CLSA

If the Nifty breaks below 5,000 levels, it will hurt the market confidence, said Laurence Balanco, Asian technical research at CLSA. However, he expects the Nifty to be driven by moves in developed markets. Talking about the Indian currency, Balanco indicated that rupee could move to Rs 58 per dollar if it breaks above Rs 52 per dollar.

first published: Nov 17, 2011 10:50 am

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