| Date: |
15-12-2014 |
| Subject: |
Indian rupee opens at 62.50 per dollar; slips 21 paise |
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The Indian rupee declined in the opening trade on Monday. It has slipped by 21 paise at 62.50 per dollar against 62.29 Friday.
The dollar cut its losses against the euro, extended gains against the yen and reached an 11-year high against the Norwegian Crown on plunging oil prices.
Agam Gupta of Standard Chartered said, "Expect capital inflows to remain muted as the market is moving into year-end mode. We can see some dollar buying from FIIs who have India exposure. Exporters are likely to sell into any upticks and demand for the dollar will emerge from local importers on any downticks to Rs 62.35/dollar.
"Keep an eye out for the PSU banks who were sellers on Friday at 62.50/dollar levels. Expect the USD-INR to trade in the range of 62.30-62.62/dollar today," he added.
Source : moneycontrol.com
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