Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today, says Pramit Brahmbhatt of Veracity.
The Indian rupee continued its downtrend and falling towards 64 per dollar mark. It has opened lower by 22 paise at 63.97 per dollar on Friday against 63.75 in previous session. The dollar-rupee pair is trading at five-week low. Pramit Brahmbhatt of Veracity said, "Expect market to trade cautiously today as investors are short of confidence. Investors are expected to trade watchfully ahead of data due for the day." He further added, "Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today." Also Read - Rate hikes by RBI a certainty in 2016: Tata Securities The euro strengthend as the Greek parliament approves a second set of reforms required to start negotiations with lenders in a bid to avert bankruptcy.
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