| Date: |
09-10-2014 |
| Subject: |
Indian rupee opens at 61.13 per dollar; up 27 paise |
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The Indian rupee gained in early trade on Thursday. It has opened higher by 27 paise at 61.13 per dollar against previous close 61.40.
Dollar slips to near 2-week lows against the euro after minutes of the Federal Reserve policy meet suggested the Central Bank could take its time in raising interest rates.
According to Emkay report, SPOT USDINR prices are expected to have intraday resistance at 61.25-61.30 and selling can be seen there. Prices on lower side can fall towards 61.05-61.10 and will bounce back from there. Prices should not move above 61.40 to maintain the negative outlook for the day.
Mohan Shenoi of Kotak Mahindra Bank said, "Dollar gave back its gains due to reference to dollar strength and its impact on inflation in the FOMC minutes released overnight. This is expected to strengthen rupee today. USD-INR is expected to trade today in a range of 61.10-61.45/dollar."
Source : moneycontrol.com
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