The rupee slipped in the early trade today. It has opened lower by 27 paise at 62.39 per dollar versus 62.12 Thursday. The dollar index gains to 80.7 levels, while the euro is a tad subdued and the yen faces pressure in early trade ahead of the outcome of a Bank of Japan meeting at which policymakers were expected to maintain their commitment to ultra-easy monetary policy.
Himanshu Arora, Religare said that, "Rupee expected to lose versus dollar in short-term as US Fed's decision to commence tapering of bond buying program is expected to hammer the rupee." "Month-end dollar buying by oil companies will also keep the rupee under further pressure. Range for rupee seen between 61.94 -62.55/dollar," he added.
Himanshu Arora, Religare said that, "Rupee expected to lose versus dollar in short-term as US Fed's decision to commence tapering of bond buying program is expected to hammer the rupee." "Month-end dollar buying by oil companies will also keep the rupee under further pressure. Range for rupee seen between 61.94 -62.55/dollar," he added.
Source:- ibnlive.in.com
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