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Fortnightly outlook for currencies: Nirmal Bang

This development, coupled with the broad weakness in the US dollar, may drive the USDINR pair to 43.75-80 on the downside. We recommend investors to stay long in the rupee in the coming fortnight.

May 03, 2011 / 05:01 PM IST

The last fortnight unfolded an array of events that had a broader impact on the Forex markets. Investors took cues from the wakeup call by rating agency S&P, which put the AAA rating of the US debt in the negative, implying a 1/3 chance of a downgrade in the next two years, talks of Greece debt restructuring plans resurfacing, continuance of China

first published: May 3, 2011 04:55 pm