| Date: |
13-10-2014 |
| Subject: |
Indian rupee opens higher at 61.30 per dollar |
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The Indian rupee opened with marginal gains of 5 paise at 61.30 per dollar versus 61.35 Friday.
The dollar continues to gain against most currencies, the euro weak as ECB President Mario Draghi re-affirmed economic slowdown concerns.
Agam Gupta of Standard Chartered said that, "Expect exporters to sell rupee close to 61.40/dollar and oil demand to kick in below 61.20/dollar levels."
"Equity markets to be watched closely as the weakness there could have some impact on forex market too. CPI this week is the other big data point which currency markets will closely watch. The rupee should trade in the range of 61.15-61.45/dollar," he added.
Source : moneycontrol.com
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