Rupee lower as risk aversion is back

Last Updated: Thu, Feb 21, 2013 04:36 hrs

Rupee opens lower at 54.35/36 versus its Wednesday close of 54.0750/0850, hurt by risk-off sentiment. Local stocks down 0.48 percent.

Asian shares fell and the Australian dollar eased as risk sentiment was shaken by talk in global markets overnight that a hedge fund had been liquidating large positions in commodities, as well as worries the Federal Reserve could slow its bond buying programme.

Most Asian currencies trading weaker compared to the dollar.

Limits for Indian government, corporate bonds at debt auction well bid, sees excess demand.

Pair may test 54.48/50 intra-day with bids seen, adds dealer.

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