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    Rupee up against dollar

    By Religare

    The rupee depreciated by 0.32 paise to Rs 53.4275 against the US dollar on Thursday as a result of selling of the American currency by exporters and banks as well as a higher opening in the domestic equity market.

    At MCXSX, USDINR for October 2012 contract traded at Rs. 53.4275 per dollar, rupee appreciated by 0.32 paise, after opening at Rs. 53.7050 against the previous closing price of Rs. 53.7500. It rose to Rs. 53.7200 per dollar with a business volume of 938460 lots till the trading. (At 12.34 PM today). Meanwhile, investors are closely awaiting the government's borrowing plans for H2 of the fiscal year at the meeting with the Reserve Bank of India (RBI) later today where it is expected to borrow Rs 2 trillion in October-March.


    At the Chicago Mercantile Exchange (CME), EURUSD future for September 2012 contract traded at US$1.2884 per euro (USD depreciated by 0.08 per cent against EUR) and GBPUSD future for September 2012 contract traded at US$1.6197 per pound (USD depreciated by 0.17 per cent against GBP) at 12.32 PM today.

    S&P CNX NIFTY, at NSE, was trading at 5,683, up by 0.35 per cent, after opening at 5,673.75 against the previous closing of 5,663.45. It touched the intra-day high of 5,693.70 till the trading. (At 12.31 PM today).

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