| Date: |
02-09-2014 |
| Subject: |
Indian rupee opens at 60.58 per dollar |
|
The Indian rupee opened marginally lower at 60.58 per dollar on Tuesday as against previous day's closing value of 60.52 a dollar.
Ashutosh Raina of HDFC Bank said, "The better than expected GDP number of 5.7 percent came as a pleasant surprise to the markets and was cheered across asset classes.”
“This is coupled with good trade deficit numbers announced yesterday. The USD/INR pair continues to trade in 60-61/dollar range. The appreciating bias should continue,” he said.
According to Emkay report, SPOT USDINR prices are expected to have support at 60.40 levels and prices can again bounce to 60.60 and breakout above 60.60 will take prices further higher towards 60.70 levels. As far as prices are holding 60.30 level, outlook can remain positive. Only a close below 60.30 can turn the outlook further weak.
Meanwhile, the euro languishes at one-year lows, following an aimless session overnight with market activity severely hampered by a holiday in the US.
Source : moneycontrol.com
|