| Date: |
05-05-2015 |
| Subject: |
Indian rupee opens lower at 63.54/$, down 12 bps |
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The Indian rupee has opened lower on Tuesday after a long weekend. The currency fell to 63.54 per dollar, down 12 basis points compared to 63.42 a dollar on Thursday.
Pramit Brahmbhatt, Veracity feels the reduction in FII inflows coupled with profit booking in local equities may pressurise rupee to depreciate.
However, gains in Asian equities and some exporters selling may limit losses in the local unit, he adds. He sees the rupee range for today between Rs 63.10-63.80/USD.
The dollar was slightly firm against a basket of major currencies advancing in thin trade.
Source : moneycontrol.com
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