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Rupee loses a bit; inflows watched

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Reuters

Reuters Market Eye - The rupee is marginally weaker in opening trades after flattish open. The pair is at 54.01/02 versus its previous close of 53.96/97.

Dealers say some bunched up inflows may provide support to the Indian rupee. The pair seen consolidating around 53.85-54.10 levels.

Foreign funds were provisional buyers of 9.40 billion rupees of stocks on Thursday.

Indian financial markets were closed on Friday for a local holiday.

Local stocks gain in early trades, up 0.44 percent.

The yen started the new week under pressure, with the dollar just a whisker away from the elusive 100 level, after the Group of 20 countries stopped short of criticising Japan's reflationary policies that have sent its currency tumbling.

 

(Reporting by Subhadip Sircar)

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First Published: Apr 22 2013 | 9:55 AM IST

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