| Date: |
04-02-2015 |
| Subject: |
Indian rupee opens flat at 61.66 per dollar |
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The Indian rupee opened flat at 61.66 per dollar on Wednesday against 61.67 Tuesday.
The dollar nurses broad losses, having suffered its biggest one-day fall in over a year as investors cut long positions. The market instead snapped up commodity currencies on a further recovery in oil prices and a surge in copper.
Himanshu Arora of Religare said, "Rupee is expected to depreciate against dollar today as RBI kept key rates unchanged and reduced the SLR. Steep surge in oil prices may also hammer rupee as the same constitutes the major portion of our import bill."
"Concerns over Greece are likely to bring risk aversion in short-term. Upside correction in dollar against a basket of currencies may also underpin rupee today. Expect the rupee to trade in the range of 61.50-61.95/dollar today," he added.
Source : moneycontrol.com
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