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Apr 17 - 02:55 AM

Gold - USD/INR On Track For Steepest Intraday Fall In 2 Weeks After Reports On Banks' Gold Import Halt, RBI Oil Steps

By Jaspreet Kalra  —  Apr 17 - 02:04 AM

• USD/INR down 0.5% at 92.69, on course for steepest intraday fall since April 2

• Traders point to Reuters reports on RBI urging state-run oil refiners to curb spot dollar purchases, halt in banks' gold and silver imports amid delay in government order

• Banker says bullion import linked USD demand down substantially on Fri

• Another banker says the reports have strengthened downward bias on USD/INR in a market anyway shy to take on USD/INR longs following earlier regulatory curbs

• It seems to be a day of INR appreciation, which could carry over into next week, depending on Middle East developments, a second banker adds

• Dollar index steady at 98.2; Asian currencies rangebound

• For more, click on [FXBUZ]
(Reporting by Jaspreet Kalra)

Source:
London Stock Exchange Group | Thomson Reuters
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