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S&P comments on India hurt rupee

Source : REUTERS
Last Updated: Fri, Mar 15, 2013 09:59 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee still up in quiet trade at 54.16/17; 54.0450 intraday high, vs Thursday close of 54.355/365.

Pair saw some drift down on dollar selling in early trades, part of which likely related to National Aluminium Co Ltd share sale.

Bids have come in for one-third of shares on offer so far, including the greenshoe option, as per exchange data.

S&P comments on India's ratings being constrained by slowing economic growth also hurt INR.

State-run bank dealer tips 53.90-54.50 band in near term.



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