Market Outlook

The Indian Rupee firmed up 5 paise to open at 72.0000 and traded within the range of 72.0725 and 71.7925 against the US dollar on increased selling of the US currency by exporters and banks. Other than dollar’s shortcoming against a few monetary standards abroad, expanded foreign fund inflows and a firm equity market backed the rupee. Dollar remained weak against major Asian peers while the pound rose in spite of concerns that political turmoil within the U.K. seem see it take off the EU on Walk 29 without a security net.

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