January 10, 2013 / 3:18 AM / 5 years ago

MARKET EYE-USD/INR likely biased up; stocks may limit gains

* USD/INR is likely to open with upward bias in
54.75-54.80 range on overnight euro moves, says foreign bank
dealer. The pair last closed at 54.75/76.
* The Indian government moved on Wednesday to mend its strained
finances, raising railway fares and likely to hike fuel prices, 
which have hit capital investment and put its sovereign credit
ratings in peril. 
* Nifty India stock futures traded in Singapore up 0.51
percent, with MSCI's Asia-ex Japan up 0.67 pct.
 
* Asian currencies trading mixed. For a snapshot, see 
* USD/INR 1-month NDF closed NY trade at 55.10/13 amid high
volumes.

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

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