| Date: |
10-11-2014 |
| Subject: |
Indian rupee opens at 61.43 per dollar; gains 19 paise |
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The Indian rupee started the trade on a positive note on Monday. The currency climbed 19 paise to 61.43 per dollar against Friday's closing of 61.62.
Dollar hovered below a four-year peak, having lost a bit of altitude late last week after US jobs data fell short of expectations, prompting some investors to take profits on extremely long positions.
Agam Gupta of Standard Chartered said, "The dollar has gotten sold off against all currencies after the Non-Farm Payrolls print on Friday evening from the US markets.”
“Expect Nationalized banks to buy dollar on dips to 61.35/dollar and any upticks to 61.55-61.60/dollar will attract exporter selling. Expect rupee to trade in a range of 61.30-61.60/dollar today,” he added.
Source : moneycontrol.com
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