| Date: |
22-12-2014 |
| Subject: |
Indian rupee opens flat at 63.30 per dollar |
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The Indian rupee opened flat at 63.30 per dollar against 63.29 Friday. The euro is at fresh two-year lows in a subdued start to a holiday-shortened week, extending a multi-month trend of weakness against the dollar.
Pramit Brahmbhatt of Veracity said, "Reduction in FII inflows coupled with profit booking in local equities may put pressure on the rupee. However, gains in Asian equities and some exporter selling may limit losses. Expect the rupee to be ranged between 62.80-63.50/dollar."
According to Karvy currency report, US dollar has appreciated with respect to all the major currencies on Friday with the Dollar index trading above 89.50. Euro is trading at 1.2241, pound at 1.5638 and the Japanese Yen at 119.37 after touching a low of 119.63 in early trade this morning. Indian rupee NDF is trading is trading on a flat note, down by 7 paisa from Friday's close.
No major economic data is to be released during the Indian market hours but home sales data from the US markets which is due to be released later in the evening is likely to effect the Indian currency markets tomorrow.
We expect to rupee to appreciate further in today’s session after opening on a positive note.
Source : moneycontrol.com
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