USD-INR Update - IIFL

- Dollar/rupee opened up Wednesday on risk aversion amid US fiscal cliff concerns as US lawmakers are left with less than a week to avert the looming crisis which could potentially pull the world's largest economy into a recession

- Dollar/rupee fell in afternoon trades Wednesday on exporters, foreign banks selling amid some corporate related inflows

- Dollar/rupee ends at near one-week low Wednesday on overseas inflows, custodian selling and tracking gains in euro

Cross-currencies

- Euro/dollar rose Wednesday on short covering amid thin trading volumes as investors remain uncertain over a potential deal to avert looming US fiscal cliff

- Some Bank of Japan policy board members said at the Nov. 19-20 meeting that the central bank should take appropriate and decisive action without ruling out any particular options in advance if risks to the domestic economy increase.

Source : Equity Bulls

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