| Date: |
14-07-2014 |
| Subject: |
Indian rupee opens lower at 60 per dollar |
|
The Indian rupee opened marginally lower at 60 per dollar on Monday as against Friday's closing value of 59.92 a dollar.
The dollar, euro and yen started trade pretty much where they closed last week with investors awaiting pivotal events including Federal Reserve Chair Janet Yellen's congressional testimony for fresh cue.
Agam Gupta of Standard Chartered expects USD-INR to open around 60.05/dollar today. "We are likely to see interest from exporters on upticks and oil demand to emerge on any downtick," he adds.
According to him, currency markets will take cues from the stock market, WPI data and CPI data - which are expected to come on the lower side. He expects rupee to trend in the range of 59.80-60.20/dollar.
Source : moneycontrol.com
|