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Business News/ Opinion / Online-views/  Rupee little changed; shares, dollar moves crucial
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Rupee little changed; shares, dollar moves crucial

Rupee little changed; shares, dollar moves crucial

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Mumbai: The rupee was largely steady in afternoon session on Tuesday after seesawing earlier in the day tracking the dollar’s movements versus major currencies and the domestic sharemarket.

At 2:29pm, the partially convertible rupee was at 45.48/49 per dollar, little changed from its close of 45.49/50 on Monday. It has so far moved in a wide band of 45.3925-45.5425.

The index of the dollar against six major currencies was down 0.14% at 78.499 points after having been up as much earlier in the session. Asian currencies were mixed compared with the dollar.

After two days of gains, Indian shares flip-flopped, tracking mixed global cues.

One-month offshore non-deliverable forward contracts were quoted at 45.72, weaker than the onshore spot rate.

In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were all at 45.5700, with the total traded volume at about $3.9 billion.

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Published: 15 Feb 2011, 02:33 PM IST
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