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4 years ago
MARKET EYE-USD/INR trading around 62.70 handle; mobile auction front-running chatter
February 3, 2014 / 9:48 AM / 4 years ago

MARKET EYE-USD/INR trading around 62.70 handle; mobile auction front-running chatter

* USD/INR oscillating around 62.70 handle; pair at
62.72/73 versus Friday close of 62.68/69, after easing to
62.5625 early in session.
* Some talk of front-running on likely mobile spectrum inflows
with the auction having begun on Monday, says dealers.    
* Dealers say no major flows in market.
* India's leading mobile phone operators as well as aspiring new
entrant Reliance Industries have applied to bid in
what will be the government's third attempt at auctioning off
some radio frequencies in the hope of raising billions of
dollars in much-needed revenue for state coffers.
    
* The index of the dollar versus six majors currencies
trading down 0.16 percent.
* Local shares down 1.4 pct.

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

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