| Date: |
18-02-2013 |
| Subject: |
Indian rupee likely to open lower |
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The Indian rupee is likely to open lower in 54.40-54.43 range versus Friday's close of 54.22/23. Private bank dealer says pair will move higher on Asian forex weakness, with demand likely from oil and gold to support.
Pair likely to trade in 54.10-54.65 range in the near term. The yen started a fresh week on the backfoot after Japan escaped direct criticism from its G20 peers on its aggressive reflationary plans that have weakened the currency and raised international complaints of competitive advantage.
The Nifty India stock futures traded in Singapore up 0.05 per cent, while the broader MSCI ex-Japan is down 0.2 per cent.
Source : economictimes.indiatimes.com
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