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Rupee inches higher on local share gains
January 9, 2013 / 3:32 AM / in 5 years

Rupee inches higher on local share gains

Reuters Market Eye - The rupee edges marginally higher to 54.96/97 versus Tuesday’s close of 54.99/55.00 on the back of mild gains in regional and domestic sharemarkets.

A Kashmiri woman walks under a garland made of Indian currency notes on display at a market in Srinagar September 3, 2012. REUTERS/Fayaz Kabli/Files

Traders however say macroeconomic concerns would continue to occupy centrestage after Fitch’s renewed ratings downgrade warning on Tuesday.

Traders expect the pair to move in a 54.85 to 55.05 range initially in the session. The Sensex trading up 0.3 percent while the broader Nifty trading up 0.2 percent.

Reporting by Swati Bhat

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