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MARKET EYE-USD/INR strengthens on day as local shares tank
April 9, 2013 / 10:08 AM / 5 years ago

MARKET EYE-USD/INR strengthens on day as local shares tank

* USD/INR reverses losses to trade stronger at 54.62/63
versus its previous close of 54.56/57 as sharp losses in the
domestic share market aids the greenback.
* Shares provisionally close down 1.2 percent. 
* Traders expect the upside for the dollar to be capped at
around 54.70 for the day.
* Most custodian banks seen buying the greenback on the back of
geopolitical tensions from North Korea which issued a warning to
foreigners to evacuate South Korea to avoid being dragged into a
merciless, sacred, retaliatory war. 

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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