A Quick View
The rupee is likely to open flat below 54.80/USD and may trade in a very narrow range. The rupee could gain on the recovery in euro, says Subramaniam Sharma, Greenback Forex Services.
Mecklai graph of the day: The Euro and GBP crosses with Indian rupee today has tested an all time high of 73.05 and 89.70 respectively. Recently, Greece got an in principle approval from euro area
The Euro and GBP crosses with Indian rupee today has tested an all time high of 73.05 and 89.70 respectively. Recently, Greece got an in principle approval from euro area finance ministers and IMF
Agam Gupta of Standard Chartered Bank, says that he thinks that an extra demand for dollar due to trade deficit will continue to drive the rupee market. He also expects the euro-rupee can move higher
The rupee is likely to open firm below 54.40/USD after the sharp upmove in euro. Any rally in domestic equities will support the rupee further, says Subramaniam Sharma, Greenback Forex.
MARKETS-INDIA-FOREX:Rupee falls for 2nd day; local shares, euro drag
HSBCs Paul Mackel spoke to CNBC-TV18 regarding the impact of the Federal move on several currencies worldwide. He sees downside risks on dollar going forward and is still biased on the euro.
The rupee is likely to open flat and may trade weak after the euro slipped. However, it is likely to be capped at 54.80/USD on exporter selling, says Subramaniam Sharma, Greenback Forex Services.
The rupee is trading higher at 54.50/51 versus its previous close of 54.68/69, as losses in the greenback versus the euro and some other Asian currencies and positive local shares helped.
The rupee is likely to open marginally strong around 54.65/USD. It could recoup some of its losses as global equity markets have been trading sideways and the euro has been hitting 1-month highs
The rupee edges down to 54.36/37 versus its previous close of 54.26/27 as oil firms buy the greenback. Oil companies are the largest buyers of dollars in the domestic currency market.
The rupee is higher at 55.37-55.38 after falling to 55.61 in early trades. It closed at 55.45-55.46 on Tuesday.
Jamal Mecklai of Mecklai Financial Services, says that he feels that the rupee is on a slippery slope. It has got to keep edging lower. He does not think that the rupee will fall below 57 this year
In an interview to CNBC-TV18, Ashok Gautam, Senior Vice President & Head, Global Markets, Treasury, Axis Bank spoke about the mild correction in the rupee which closed today at 55.73 against
The rupee is likely to open marginally strong, tracking a firm euro and mildly positive Asian markets, says Subramaniam Sharma, Greenback Forex Services.
Domestic politics will increasingly drive the fate of the Indian rupee, much like the Japanese yen or the euro, HSBC says in a note on Friday.
The rupee is likely to open flat. Lower crude prices, a stronger euro and positive Asian market cues will help cap its upside at 55.20/$, says Manis Thanawala, Greenback Forex Services.
; obviously there are issues particularly in Europe and Japan. But barring a big negative surprise around either the Euro Zone or fiscal cliff, I am broadly speaking constructive on the outlook for equities
The rupee rose on Thursday, snapping three sessions of losses, on bunched up dollar sales by foreign banks after public holidays and inflows from a state-run utility.
The fall of the rupee has forced the Finance Ministry to take necessary steps to arrest the fall, besides which there are other near term triggers in which currency selling is a bit difficult.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form
or medium without express writtern permission of moneycontrol.com is prohibited.