| Date: |
25-09-2014 |
| Subject: |
Indian rupee opens flat at 60.92 per dollar |
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The Indian rupee opened flat at 60.92 per dollar on Thursday against previous day's closing of 60.96.
Mohan Shenoi of Kotak Mahindra Bank said, "Dollar strength continues against major currencies globally. The correction in Sensex due to SC ruling on coal block allocation might result in marginal rupee weakness.”
“The rupee is expected to trade in a range of 60.85-61.25/dollar today," he added.
According to Emkay, SPOT USDINR prices after breaking the trend line could not move above 61.20 levels. Today prices are expected to have resistance at 60.85-60.88 and prices can remain under pressure. Prices can attempt to break 60.65-60.70 which is very crucial support to be breached for further fall. Prices should not move above 61.00 to remain weak for the day.
Meanwhile, the euro languishes near a 14-month trough after slipping below 1.27 to the dollar. The dollar index breaks above 85 for the first time since July 2010.
Source : moneycontrol.com
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