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    HomeNewsBusinessMarketsRupee hits near two-month low; support seen for now

    Rupee hits near two-month low; support seen for now

    The rupee hit a near two-month low in early trading on Monday, tracking losses in most other Asian currencies, although some corporate dollar selling helped prevent broader losses in the local currency.

    March 04, 2013 / 15:28 IST

    The rupee hit a near two-month low in early trading on Monday, tracking losses in most other Asian currencies, although some corporate dollar selling helped prevent broader losses in the local currency.


    At 9:08 a.m. (0338 GMT), the rupee was at 54.94/95, marginally weaker than its close of 54.90/91 on Friday. The unit dropped to as low as 55.15 in opening trades, its weakest since January 8.


    Sentiment for the rupee has been bearish after a close above 54.80 on Friday, traders said. However, USD/INR should see good technical resistance at around 55.15, ahead of the 55.89 peak in November.

    first published: Mar 4, 2013 09:26 am

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