| Date: |
01-09-2014 |
| Subject: |
Indian rupee opens flat at 60.50 per dollar |
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The Indian rupee opened flat at 60.50 per dollar versus 60.50 Thursday.
Euro slips to a fresh one-year low early as the situation in Ukraine worsened. Meanwhile, pressure on the euro helped the dollar index reach a high not seen in over 13 months.
Agam Gupta of Standard Chartered said, "Expect rupee to trade in the range of 60.35-60.70/dollar. The downside will attract buying from local banks whereas any spike above 60.60/dollar will see exporter hedging."
He further added, "The market will keep an eye on geo-political news from Ukraine after we have seen some escalation in tensions there."
Source : moneycontrol.com
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