| Date: |
16-06-2014 |
| Subject: |
Indian rupee opens lower at 59.82 per dollar |
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The Indian rupee opened lower by 6 paise at 59.82 per dollar on Monday as against Friday's close of 59.76 a dollar. The rupee is trading at lowest level since May 13, 2014.
The dollar was slightly higher against the yen as markets listened to the Bank Of Japan's latest comments on policy on Friday while sterling soared on the back of a surprise hint from the Bank Of England that interest rates could rise this year.
Agam Gupta of Standard Chartered said, "The worries from the Iraq crisis and its impact on crude, could weigh on India again."
"Demand from oil companies and some short covering will see demand emerge around 59.60/dollar, while exporters expected to start selling above 60/dollar levels. Expect Rupee to trade in the range of 59.60-60.10/dollar today," he added.
Source : moneycontrol.com
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