Expect rupee to remain steady today: Karvy
Karvy Stock Broking has come out with a research report on currencies. The research firm expects Indian rupee to remain steady for the day.
January 11, 2011 / 09:46 IST
Karvy Stock Broking has come out with a research report on currencies. The research firm expects Indian rupee to remain steady for the day.
The report says, "Indian rupee may open strong from its previous day's loss by taking cues from mixed Asian equities and mean while euro is trading slightly higher against the greenback. However, this would be important to watch out Indian stock market performance. In Asia, India's shares have declined the most. The SGX Nifty is trading marginally higher may also support rupee to open strong. The spot dollar index which was trading higher on yesterday it ended substantially lower at 80.866. The index is now trading lower at around 80.93 levels, intraday it has already made a low of 80.779 levels. The declining dollar index may also support rupee to trade strong. Though rupee is expected to trade strong but the market movement could be sluggish due to absence any economic events. We expect Indian rupee to remain steady for the day."Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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