0318 GMT [Dow Jones] The USD/INR is likely to open slightly lower,
tracking the dollar's broad weakness against most Asian currencies. A
dealer with a foreign bank tips the pair to open at 55.55 vs 55.61
late Friday in Asia and trade in a 55.30-55.80 band through the
session. He says the pair is likely to track the EUR in the near term
as there are no big triggers on the domestic front. India's balance of
payments figures released Friday are unlikely to be a major trigger as
the data were broadly in line with expectations, he says. India's
Jan-March current account deficit widened to $21.7 billion from $6.3
billion last year. Foreign funds were net buyers of a provisional
INR30.47 billion of Indian shares Friday. One-month NDFs are at
55.88/55.92. (sudeep.jain@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 01, 2012 23:18 ET (03:18 GMT)
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