Rupee off record low in early trade, opens at 60.45/$

Indian rupee opened at 60.45 per dollar, up 26 paise compared to previous day's closing of 60.71. Sonal Varma of Nomura said, "Our bias to remain short rupee, even after spot broke the 60/USD mark, remains intact."

June 27, 2013 / 09:33 IST

Indian rupee came off its record low in early trade Thursday. It opened at 60.45 per dollar, up 26 paise compared to previous day's closing of 60.71.

On Wednesday, the rupee touched its all-time low of 60.76 per dollar due to defence and crude oil related demands.

Sonal Varma of Nomura said, "Our bias to remain short rupee, even after spot broke the 60/USD mark, remains intact."

"Despite net portfolio outflows of nearly USD 7 billion from May 22 to June 24, foreign positioning in India remains high," she said.

first published: Jun 27, 2013 09:09 am

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