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Currency Research Report: Daily Report: Forex

Indian rupee started the day strongly but lost most of its gains as dollar index extended its rally for second consecutive session, post Fed’s continuation of tapering.
03 Feb 2014 | 09:54 AM

Indian rupee started the day strongly but lost most of its gains as dollar index extended its rally for second consecutive session, post Fed’s continuation of tapering on Wednesday.

Domestic equity markets managed to end the last trading day of the month on a positive note as Nifty closed at 6089.5 levels with a gain of 15.8 points.

India’s fiscal deficit touched Rs.5.16 lakh cr. during April-December, or 95.2 per cent of the full year target, compared with 78.8 per cent a year ago.

FDI inflows into India rose 54.8 percent in November to $1.64 billion compared with $1.06 billion a year ago.

US first estimate of fourth quarter GDP showed that the US economy expanded at 3.2 percent during the quarter.

US weekly jobless claims showed that applications for benefits climbed by 19,000 for the week ended January 25 and is significantly higher than forecasts.