2012.05.30 05:09:09 MARKET TALK: USD/INR Likely Higher; May Hit New Record High-Dealer

0309 GMT [Dow Jones] The USD/INR is likely to open higher, tracking the greenback's broad strength against regional currencies amid rising concerns over the health of Spanish banks. The pair is likely to open at 55.85-55.90 vs 55.67 late Tuesday in Asia, says a dealer with a foreign bank. The dealer says traders expect the RBI to intervene as the pair approaches the psychological 56.00 mark. If that resistance is breached, the pair may touch a new record high today, he says. The pair's record high stands at 56.37. Foreign funds were net buyers of a provisional INR905.0 million worth of Indian shares Tuesday. One-month NDFs are quoted at 56.24/56.27.(sudeep.jain@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 29, 2012 23:09 ET (03:09 GMT)