| Date: |
18-02-2014 |
| Subject: |
Indian rupee opens at 61.95 per dollar; down 11 paise |
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The Indian rupee opened marginally lower by 11 paise at 61.95 per dollar versus 61.84 Monday.
The yen inched down against its major counterparts in early trade on Tuesday, as investors waited to see if the Bank of Japan would hold policy steady as expected and perhaps hint at the possibility of further easing ahead.
The dollar rose about 0.2 percent to 102.10 yen, pulling away from a nearly two-week low of 101.37 yen hit in the previous session, while the euro also added about 0.2 percent on the day to 139.91 yen.
Ashutosh Raina of HDFC Bank said, "Vote on Account yesterday cheered the markets due to the fact that FM has been able to meet his fiscal targets.The resultant rally in stocks extended to currencies as well with the dollar-rupee pair breaching 62/USD."
"The next support is at 61.70/USD, break of which opens gates to 61/USD. Expect rupee to trade between 61.70-62.40/USD."
Source : moneycontrol.com
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