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MARKET EYE-USD/INR lower; local stocks gain
December 31, 2013 / 4:07 AM / 4 years ago

MARKET EYE-USD/INR lower; local stocks gain

* USD/INR lower around 61.82/83 versus Monday's close
of 61.91/92 on the back of euro gains.
* Local stocks up 0.3 percent.
* INR also helped by the foreign investment regulator's nod to
Vodafone and Tesco's investment proposals, worth around $1.7
billion in total. 
* The dollar hovered within sight of a five-year high versus the
yen on Tuesday and was on track for its biggest yearly
percentage gain versus the Japanese currency in 34 years, having
risen nearly 21 percent in 2013. 
* Dealers expect the pair to find support on month-end importer
demand, but those would be good levels to sell.
* INR on course to end 2013 as Asia's third worst performer,
down over 11 percent.

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

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