| Date: |
01-10-2014 |
| Subject: |
Indian rupee opens at 61.93 per dollar; slips 18 paise |
|
The Indian rupee declined in the early trade on Wednesday. It has opened lower by 18 paise at 61.93 per dollar against 61.75 Tuesday.
The euro languished near a fresh two-year trough having come under fire as a further slowdown in euro zone inflation intensified pressure for more stimulus from the European Central Bank. Dollar index trades near the 4-year high.
Mohan Shenoi of Kotak Mahindra Bank said, "With the USD appreciating in response to expectation of rise in dollar interest rates, dollar-funded carry trades are shifting to euro as an attractive funding currency."
"This dollar rally is impacting rupee to some extent. The rupee is expected to trade today in a range of 61.60-62/dollar," he added.
Source : moneycontrol.com
|