| Date: |
17-08-2015 |
| Subject: |
Rupee declines further; opens at 65.10 per dollar |
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The Indian rupee slipped in the early trade on Monday. It has opened lower by 10 paise at 65.10 per dollar versus 65 Friday.
Agam Gupta of StanChart Bank said, "The dollar will probably be stronger against INR due to the trade data which was released on Friday after market close. There should be interest from local government banks to sell USD on upticks to 65.20-65.30/dollar area."
"Market players will look to buy USD to reduce their short dollar positions on any dip to 64.85-64.90/dollar zone. We expect a range of 64.80-65.30/dollar today," he added.
The dollar gained against a basket of currencies on encouraging data in the US.
Source : moneycontrol.com
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