Wednesday, 1 July 2015

Indian rupee opens flat at 63.65 per dollar



The rupee is expected to trade marginally weaker today due to the Greece default and the weakness will continue till Sunday's referendum, says NS Venkatesh of IDBI Bank.

The Indian rupee has opened flat at 63.65 per dollar on Wednesday against previous day's closing value of 63.64 a dollar.

NS Venkatesh of IDBI Bank said, "The USD-INR pair ended on a positive note yesterday. We saw some dollar sales by the custodial banks and the month-end import demand was at a low."

"The rupee is expected to trade marginally weaker today due to the Greece default and the weakness will continue till Sunday's referendum. The range for the USD-INR is seen between 63.60-63.80/dollar," he added.

The euro traded around 1.1 to the dollar as Greece defaults on a repayment to the IMF, but short-covering and uncertainty ahead of a key referendum caps losses.
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