September 11, 2013 / 8:24 AM / in 4 years

MARKET EYE-USD/INR near 3-week low; large corporate sells

* USD/INR drops to near three-week low as dealers cite
corporate inflow related selling. Pair at 63.35/36 after
dropping to 63.28, its lowest since Aug. 23, and 63.84/85 last
close.
* Several dealers cite selling by a large private petrochemical
company.
* Some dealers also cite selling related to possible
front-running due to inflows towards Mylan Inc's $1.6 billion
deal to acquire a unit of Strides Arcolab Ltd. 
* Dealer says convincing break of 63.30 means 63 will be next
support.

 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

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