Expect Indian rupee to trade on mixed note: Sushil Finance
According to Sushil Finance, Indian rupee is expected to trade on mixed note as the weakness in DX, RBI measures to attract more inflows and foreign fund flows may support currency to gain strength.
October 07, 2013 / 14:00 IST
Sushil Finance's report on currency
The Indian Rupee appreciated by 0.5 percent on Friday's trading session and closed at 61.44 on the back of struggling Dollar index. Further, Foreign fund flows and selling of dollar by companies supported currency to gain strength. Additionally, RBI measures to attract more Inflows and ease in Geopolitical tensions acted as positive factors for the Indian Rupee. However, weak economic data from the country curbed sharp appreciation in the Indian Rupee.Outlook: We expect Indian Rupee to trade on mixed note as the weakness in DX, RBI measures to attract more inflows and foreign fund flows may support currency to gain strength whereas, rise in risk aversion in the global markets along with the weak economic data from the country may act as an undesirable factor for the currency.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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. 
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