| Date: |
25-02-2013 |
| Subject: |
Rupee gains 8 paise against US dollar to 54.09 |
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Indian rupee gained against the greenback in morning trade on Monday. Rupee was up by 8 paise or 0.16% against USD to Rs 54.09 compared to previous close of 54.18 (09.22 a.m.).
''USDINR has found strong support at 54-54.10 levels. Till price manages to trade above this our bias remains firm, targeting 54.55 followed by 54.75 levels. Alternatively, a break and close below 54 only can change our bearish bias.
Indian rupee is expected to go weaker today as stronger dollar internationally and jittery of investors before budget can make USDINR move up,'' said Emkay Global Financial Services.
In the spot market, the Dollar Index increased 0.13% to 81.61 (22:46 ET).
Euro - USD was trading at 1.31 down 0.06% while USD - Japanese Yen was trading at 94.06 up 0.69% (22:56 ET).
At 09.28 a.m., the Sensex was trading down 10.68 points or 0.06% at 19,306.33 with 16 components falling. Meanwhile, the Nifty was trading higher by 2.70 points or 0.05% at 5,853 with 26 components gaining.
Source : myiris.com
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