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Rupee edges up at open but month-end dollar demand weighs

The domestic share market also trading up 0.5% and likely to limit sharp gains in the pair

<a href="http://www.shutterstock.com/pic-95113372/stock-photo-a-pile-of-notes-and-coins-in-indian-currency.html" target="_blank">Currency</a> image via Shutterstock

Reuters Mumbai

The rupee opens above the 62 mark, but soon falls from session highs to trade at 62.11/12 versus its previous close of 62.16/17 as month-end dollar demand from oil importers continues to weighs.

Stronger Asian currencies and a fall in the non-deliverable forwards market is likely to keep a downward pressure on the USD/INR pair.

The domestic share market also trading up 0.5% and likely to limit sharp gains in the pair.

Asian currencies trading slightly stronger against the dollar.

 

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First Published: Dec 27 2013 | 10:07 AM IST

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