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State Elections in India and its influence on the USD/INR Pair

The results of the mid-term state elections in India were released today to the chagrin of economic analysts around the world.  With the next national elections in India slated for some time in 2014, these state elections (as in the US midterm elections) were a prime time to show either a welling of support for the ruling party (The Congress) or a tide change towards the opposition.

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