The India rupee fluctuated today as the positive outlook for the US economy was helping riskier currencies, but bad news from China and Ukraine made Forex traders averse to risk.
Positive US economic data had a surprising effect on the Forex market, providing almost no help for the dollar but allowing currencies of emerging economies to rally. This week traders were less willing to risk, putting pressure on currencies associated with risk. The conflicting forces left the rupee without a clear direction.
USD/INR was virtually flat, trading at 60.1563 as of 9:38 GMT today.
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