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BSE Information Technology and Healthcare indices lost more than 2 percent while the rupee appreciated by 11 paise to 60.99 a dollar. This week, the domestic currency gained more than 100 paise.
The rupee is trading at fresh 12-week high gaining past 61 per dollar for the first time since December 10 2013. Equity market sentiment, strong FII flows and strength in the likes of the euro
The markets guess is it is Glaxo bringing in the money - Rs 6400 crore for its open offer almost amounting to a billion dollars and therefore the same kind of rally in the rupee today like the one
Pramit Brahmbhatt of Alpari India said the rupee was cheering the dip in current account deficit and steady FII inflows into Indian equity was helping the currency to consolidate further & trade
A strong euro will provide some positive support. However, there is good chance of strong dollar demand and profit booking at these appeasing levels which may challenge rupee's positive stride, says
The Sensex touched a fresh life-time closing high of 21513 and the Nifty too surged above the 6400 mark. Adding to the drumrolls was the rupee that was at a three month high on positive current
-term.Meanwhile, both the experts are wary about the formation of a stable government, a key concern that might push the dollar higher going ahead.Also Read: CAD improves, but rupee seen in 61-65/USD band, say
Karvy Stock Broking has come out with its report on rupee. The research firm expects the rupee to continue with its appreciating trend against the dollar.
Moneycontrol BureauIndia’s current account deficit (forex inflows minus outflows) has shrunk to a four-year low of 0.9 percent GDP for the December quarter, but analysts do not expect the rupee
to be delivery,” he said.HSBC sees the rupee at 62 against the dollar by the end of the year.
Ahead of ECB and BoE rate setting meetings later today and US payroll data tomorrow rupee is expected to trade in a range of 61.65-61.95/USD, says Mohan Shenoi of Kotak Mahindra Bank.
.""Ahead of ECB and BoE rate setting meetings later today and US payroll data tomorrow rupee is expected to trade in a range of 61.65-61.95/USD," he added.
ICICIdirect.com has come out with its report on currency. According to the research firm, the US dollar is expected to find buying support on declines against the INR. One can utilise declines
The Indian rupee opened flat at 61.89 per dollar as against previous day's closing value of 61.85 a dollar.
The dollar-rupee pair will continue to be sold on upticks in the near to medium term. Expected range for the day is 61.52-61.98/USD, says Ashok Gautam of Axis Bank.
The dollar-rupee pair will continue to be sold on upticks in the near to medium term, says Ashok Gautam of Axis Bank.
Safe-haven driven fresh dollar demand from importers amid escalating tension between Russia and Ukraine weighed on emerging market currencies, including India's rupee.
The rupee is weak against dollar as traders turn risk-averse amid flaring geo-political tensions. Most bonds are trading on a positive note after recouping initial losses. Value buying and short
Indian markets have also reacted negatively to the global concerns. Expect rupee to continue trading in 61.50-62.50/USD range, says Ashutosh Raina of HDFC Bank.
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