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The rupee trades at 53.47-48 versus its previous close of 53.76-77 on the back of gains in other Asian sharemarkets. The pair is seen moving in a 53.40 to 53.90 range during the session, say traders.
The pair is seen moving in a 53.40 to 53.90 range during the session, say traders.
The euro holding steady near a 14-month high versus the dollar with market players focusing on whether it can breach resistance at USD 1.3500 and set itself up for further gains.
Dollar demand from oil firms to meet month-end import commitments is likely to limit the downside for the pair and will be watched later in the session.
The domestic shares will also be closely monitored for cues on the direction of foreign fund flows.
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Like Bank Nifty; mkt has strong support at 7700: PhillipCap