Rupee hits near two-month low; good support seen for now
Mumbai: The Indian rupee hit a near two-month low
in early trading on Monday, tracking losses in most other Asian
currencies, although some corporate dollar selling helped prevent
broader losses in the local currency.
At 9.08am, the rupee was at 54.94/95, marginally weaker
than its close of 54.90/91 on Friday. The unit dropped to as low as
55.15 in opening trades, its weakest since 8 January. At 9.22am, the
BSE’s benchmark Sensex was trading at 18,862.23 points, down 0.30%.
Sentiment for the rupee has been bearish after a close
above 54.80 on Friday, traders said. However, the dollar-rupee pair
should see good technical resistance at around 55.15, ahead of the 55.89
peak in November.
Avinash kumar
PGDM 2nd sem.
I guess to investing in dollars are still beneficial for the Indians and International investors....Hopefully companies like Atlanticus corp. provide right kind of directions to investors like me....
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