MARKET HEADLINES
- Rupee depreciates 13 paise against dollar
The rupee depreciated 13 paise to hit an intraday low of 63 against the US dollar today at Interbank Foreign Exchange. The domestic currency was trading firm against the greenback in the early trades and was up at 62.71 (up 14 paise). The domestic currency had ended six paise higher at 62.85 against the Greenback on dollar selling by banks after falling to over three-month low of 63.15 in yesterday's trade. Forex dealers said besides increased selling of the US currency by exporters, a higher opening in the domestic equity market supported the rupee but the dollar's strength against other currencies overseas, capped the gains.
- Euro steadies, Aussie up after core inflation
The euro recovered some ground against the dollar on Wednesday in the absence of major developments over Greece, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent. After some early gains in Europe, the euro was up 0.3 percent on the day at $1.0762 and 0.2 percent at 128.66 yen. The Australian dollar was the day's biggest major mover, gaining almost 1 percent to $0.7779 after data showed core inflation of 0.6 percent in the first quarter, higher than a forecast of 0.5 percent.
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