| Date: |
24-06-2014 |
| Subject: |
Indian rupee may edge down against US dollar at open, month-end demand in focus |
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Indian rupee seen opening slightly weaker than its Monday's close of 60.20/21, tracking gains in the offshore Nifty futures but month-end dollar demand for the greenback from importers is expected to limit any sharp fall.
The pair is seen holding in a 60.00 to 60.30 range during the session.
Asian currencies trading mixed compared with the dollar.
Asian shares were subdued on Tuesday while major currencies kept to recent snug ranges after a surprisingly soft reading on euro zone manufacturing took the shine off better data from China, Japan and the United States.
Traders will monitor the domestic share market for clues on the direction of foreign fund flows. The Nifty India stock futures traded in Singapore currently up 0.34 percent.
The pair currently trading at 60.13 in the offshore spot non-deliverable forwards traded in Singapore.
Source : financialexpress.com
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