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Indian rupee seen opening stronger against US dollar

Jul 15 2014, 09:24 IST
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SummaryIndian rupee seen opening stronger against US dollar from its Monday close of 60.07/08, tracking gains in the dollar against other Asian currencies.

Indian rupee seen opening stronger against US dollar from its Monday close of 60.07/08, tracking gains in the dollar against other Asian currencies.

Asian currencies are trading mixed against the dollar, with most weaker. See for a snapshot.

Also, overseas investors sold shares worth $93.04 million on Monday, as per provisional NSE data.

Traders expect the market to remain range-bound, with technicals indicating the pair may not breach the 59.85-60.45 range in the immediate term.

Asian shares rose on Tuesday after Citigroup's earnings and a fresh round of merger and acquisition activity in the U.S. healthcare industry lifted global share prices.

The pair is trading at 60.18 in the offshore non-deliverable forwards spot trade in Singapore.

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