| Date: |
27-05-2014 |
| Subject: |
Indian rupee opens lower at 58.80 per dollar |
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Indian rupee fell further in early trade on Tuesday. It opened at 58.80 a dollar, down 9 paise compared to previous day's closing value of 58.71 a dollar.
Ashutosh Raina, HDFC Banksays USD-INR currency pair has been trading in a 58-59 a dollar range with good capital flows offset by aggressive Central Bank intervention.
"A strong CAD number should also add to the prevailing positive sentiment," he adds. He expects the trading range of 58-59 a dollar to continue till we get some policy announcements from the new government.
Source : moneycontrol.com
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