| Subject: |
Indian rupee opens at 61.10 per dollar; slips 18 paise |
|
The Indian rupee slipped in the opening trade on Thursday. It fell by 18 paise to 61.10 per dollar versus previous day's closing value of 60.92 a dollar.
The dollar rose to its highest in over four years against a basket of currencies after the Federal Reserve's guidance on interest rates highlighted the diverging pathways between the United States and other rich nations.
Mohan Shenoi of Kotak Mahindra Bank said, "The FOMC move has resulted in a dollar rally against major currencies. Consequently dollar is expected to mildly strengthen against the rupee. The rupee is expected to trade in a range of 60.80-61.20/dollar today."
According to Emkay, SPOT USDINR prices are expected to have support at 60.90-60.95 and buying can be seen there. Prices on higher side can test 61.20. Prices should not fall below 60.80 to maintain positive outlook for the day.
Source : moneycontrol.com
|