The Indian rupee opened at 61.01 per dollar versus 61.01 Friday. According to Agam Gupta, Standard Chartered Bank, the rupee is expected to open stronger on dollar weakness.
The Indian rupee opened at 61.01 per dollar versus 61.01 Friday.
Agam Gupta, Standard Chartered Bank said, "The rupee is expected to open stronger on dollar weakness. However, the rupee will be in a range on domestic demand supply mismatch along with fears of RBI intervention or measures to stem volatility. The range for the day is seen between 60.75 - 61.25/USD."
The dollar remained on the backfoot following weak US jobs data. The euro was still above 1.32. The dollar index was at 82 mark and the dollar yen was around 98.
Source:-www.moneycontrol.com
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