Rupee can test key support level of 54.80/USD: Thanawala

Positive global market cues and a flat dollar should support the rupee, says Manis Thanawala, Greenback Forex Services.

August 08, 2012 / 08:37 IST

Manis Thanawala, Greenback Forex Services said, "Positive global market cues and a flat dollar should support the rupee. It could test the key support level of 54.80/USD. However, importer demand around this level could cap gains. The range for the day is seen between 54.80-55.20/USD."

first published: Aug 8, 2012 08:29 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347