Rupee closed today at 55.07 after touching intra day high of 55.25
This is the third straight week rupee closed weaker .
The main conceruing points are as follows
1. Huge refund of recently concluded IPO of CARE Ltd . Appx 500 Million of foreign Money investment was there through application
2. Holiday season leads to less liquidity in the Market
3. Month end Demand from the Oil Importer / Gold traders
4. Negative view created by the silent stand taken by RBI
5. Lack of clarity and continued suspense on US Fiscal cliff
This is the third straight week rupee closed weaker .
The main conceruing points are as follows
1. Huge refund of recently concluded IPO of CARE Ltd . Appx 500 Million of foreign Money investment was there through application
2. Holiday season leads to less liquidity in the Market
3. Month end Demand from the Oil Importer / Gold traders
4. Negative view created by the silent stand taken by RBI
5. Lack of clarity and continued suspense on US Fiscal cliff
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