| Date: |
07-11-2013 |
| Subject: |
Rupee opens flat at 62.40 vs US dollar |
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Mumbai: Indian rupee opened flat at 62.40 per dollar on Thursday as against previous day's closing of 62.39 per dollar.
According to Ashutosh Raina of HDFC Bank , re-emergence of US Fed tapering expectations after a better than expected US ISM Manufacturing data pushed the US yields higher and the dollar strengthened against major as well as emerging market currencies.
FII flows started to taper which put pressure on EM currencies, he adds. Raina expects the rupee to trade in a range of 61.80-62.50/USD.
Source : ibnlive.in.com
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