Rupee has support near 52.72/52.60: Emkay.

``USDINR would most probably rise towards 53.23. Support is near 52.72/52.60. It has to fall below 52.60 to hint at the possibility of falling further,`` said Emkay Global Financial Services. It further said the following:

Indian rupee remained flat on Wednesday as rising Euro against the dollar pushed the Indian rupee, however demand of dollar from oil companies pushed the dollar offsetting the strength in INR.

Chinese GDP came as per the expectations of our analyst at 7.4%. This could push the dollar further against most of the international currencies.

We expect Indian rupee to be weak today, as demand of dollars from oil companies and other sectors can push the prices higher.

Source : myiris.com