| Date: |
11-11-2014 |
| Subject: |
Indian rupee opens flat at 61.56 per dollar |
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The Indian rupee opened flat on Tuesday at 61.56 per dollar against previous day's closing value of 61.51 a dollar.
The dollar gains reversing some of its post-payrolls losses as investors were quick to rebuild long positions amid an absence of major drivers.
Ashutosh Raina of HDFC Bank said, "US dollar recouped most of its US payroll losses with dollar index touching a high of 87.82. Investors and real money names continue to favour USD to other low yielding currencies. It is hard to see USD strength losing steam in the short-term. Expect rupee to continue to trade in a range of 61-62/dollar in the near-term."
Source : moneycontrol.com
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