| Date: |
04-03-2014 |
| Subject: |
Indian rupee opens lower at 62.12 per dollar |
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The Indian rupee opened lower by 9 paise at 62.12 per dollar on Tuesday versus previous day's closing value of 62.03 a dollar.
The dollar index climb past 80.063, pulling away from a two-month trough of 79.688 seen on Friday.
The yen holds onto chunky gains early this morning, having been squeezed higher as skittish investor’s dumped riskier assets amid tensions over Russian military intervention in Ukraine.
Ashutosh Raina of HDFC Bank said, "Political tension in Ukraine and subsequent intervention by Russia has sent global markets into a tizzy. The global risk off sentiment has resulted in flight to safety."
"Indian markets have also reacted negatively to these global concerns. I expect rupee to continue trading in 61.50-62.50/USD range," he added.
Source : moneycontrol.com
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