| Date: |
19-08-2014 |
| Subject: |
Indian rupee opens flat at 60.77 per dollar |
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After four days of holiday, the Indian rupee opened on flat note at 60.77 per dollar on Tuesday against last Thursday's closing value of 60.76 a dollar.
The dollar has risen against a basket of major currencies on reduced concerns over Russia and Ukraine and positive US housing data. Data shows US home builder sentiment rising in August to its highest since January as labor market conditions improved.
Ashutosh Raina, Head-Forex Trading at HDFC Bank said, "The risk sentiment appears to have improved on the hopes of progress in the Ukraine crisis. The USD/INR appears to have touched the near-term lows and sentiment appears to have turned positive on the back of improving global scenario. Expect the pair to trade in 60-61 range with appreciating bias."
He further added, "The 10-year bonds appear to be settling in 8.50-8.80 percent range after the recent RBI action and some reduction in government borrowing."
Source : moneycontrol.com
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