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The Indian rupee on Tuesday rose by nine paise to end at one-week high of 61.08 against the greenback on fresh dollar selling by banks and exporters.
Expect rupee to trade range-bound to slightly weak and will look forward to the local equities for further cues. Range for the day seen at 60.80-61.80/dollar, says Pramit Brahmbhatt of Veracity.
The risk-off scenario however is not likely to be an enduring one. The rupee is expected to trade in a range of 61.20-61.60/dollar today, says Mohan Shenoi of Kotak Mahindra Bank.
-month highs. The dollar index is near 81.31 levels gaining over 2 percent for the month. The euro was flat near 1.34.Also Read - Weak global cues push rupee to 4 month lowAgam Gupta of Standard
Rupee is expected to trade in a range of 60.05-60.25/dollar, says Agam Gupta of Standard Chartered.
Taking cues from the strong equity market sentiment, we expect rupee to appreciate though the dollar demand from oil importers will keep rupee under pressure, says Pramit Brahmbhatt of Veracity.
In the absence of any major triggers and with RBI absorbing FII inflows, the rupee is expected to trade in a narrow range of 60-60.25/dollar today, says Mohan Shenoi of Kotak Mahindra Bank.
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