July 2, 2012 / 11:07 AM / 5 years ago

MARKET EYE-USD/INR weak on day; volumes stay low

* USD/INR dropped on the day in low volumes to trade at 55.58/59
versus 55.6050/6150.
* Weak domestic shares and the drop in the euro however kept the
negative bias on the pair.
* Shares closed down 0.2 percent.  
* Traders say oil firms, the biggest buyers of the currency in
the domestic market, have moved out of the market, pushing the
dollar/rupee to the day's lows.
* Some foreign banks were also seen selling dollars starting
55.95 levels.

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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