| Date: |
17-06-2014 |
| Subject: |
Indian rupee opens at 60.35 per dollar, down 20 paise |
|
The Indian rupee declined in early trade on Tuesday. It opened lower by 20 paise at 60.35 per dollar as against Monday's close of 60.15 a dollar.
The dollar index lost momentum at 80.7 to end in the red ahead of the FOMC rate decision tomorrow, while the yen ruled at 4 month highs on account a heightened risk aversion in global markets.
Ashutosh Raina of HDFC Bank says, "The escalating tension in Iraq coupled with the WPI inflation data have resulted in USD/INR pair crossing the psychological figure of 60/dollar and settling above that level."
"The two-day FOMC meeting begins today and market will be keenly awaiting the outcome. We expect rupee to trade in a range of 60-60.50/dollar today," he adds
Source : moneycontrol.com
|