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Rupee’s opening uptick runs into worries over risk view, premiums rise
The Indian rupee remains little changed against the US dollar amid concerns over risk appetite. The currency was at INR82.15 to the dollar by Friday morning, as Asian equities saw falls following news of fears over US economic growth. The number of people filing new claims for unemployment benefit increased moderately last week and a report by the Philadelphia Federal Reserve stated that manufacturing activity in the mid-Atlantic unexpectedly contracted earlier this month, while data at the beginning of April showed a contraction in US retail sales and manufacturing activity.