| Date: |
22-09-2014 |
| Subject: |
Indian rupee opens flat at 60.85 per dollar |
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The Indian rupee opened flat on Monday at 60.85 per dollar versus 60.81 Friday.
The dollar rose against a basket of major currencies on Friday as investors bet that US interest rates would rise more quickly than expected.
Agam Gupta of Standard Chartered said, "Expect the rupee to trade in a range of 60.70-61/dollar for the day."
"Expect local banks to buy the USD below 60.80, hence putting a floor at 60.70. Exporters and capital inflows are expected to sell USD on any uptick towards 61," he added.
Source : moneycontrol.com
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