Rupee may appreciate against dollar: Karvy
Karvy Stock Broking has come out with a research report on currencies. The research firm says, positive equity markets along with weak dollar index are expected to send rupee appreciating.
January 04, 2011 / 10:34 IST
Karvy Stock Broking has come out with a research report on currencies. The research firm says, positive equity markets along with weak dollar index are expected to send rupee appreciating.
The report says, "US equity markets started 2011 on a strong note as they clocked in gains of close to a percent. Better than expected economic data in the form of manufacturing numbers supported equity markets. Taking cues Asian equity markets have also opened on a stronger note. SGX nifty is pointing towards higher opening for Indian markets as well and given the positive cues it might continue to trade higher. Data later is expected to indicate unchanged unemployment rate in Germany and slowing contraction in factory orders in US. Dollar index is also trading largely flat at 79.2. Overall, positive equity markets along with weak dollar index, is expected to send rupee appreciating."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 
Read More
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!
