| Date: |
30-01-2014 |
| Subject: |
Indian rupee opens at 62.90/dollar; declines 49 paise |
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The Indian rupee slipped in the early trade. It has opened lower by 49 paise at 62.90 per dollar versus 62.41 Wednesday.
Investors plough back into the yen as safe-haven demand returned with a vengeance, dollar-yen currently at 102 levels.
The dollar index was down just a touch as the euro rebounded to USD 1.3661 from a one-week low of USD 1.3603.
Mohan Shenoi of Kotak Mahindra Bank said, "Further tapering of bond buying programme by USD 10 billion announced by FOMC is expected to impact EM currencies. This is expected to exert bearish impact on local bond markets though rupee is expected to whether the storm well."
"Ahead of auction tomorrow the 10-year yield is expected to trade in a range of 8.78-8.83 percent. Expectation is the rupee will move between 62.40-62.90/USD."
Source : moneycontrol.com
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