Monetary Solution Indore Best Trading Advisory | Stock Tips Free Trial--> 20/4/2015

Indian rupee opens at 62.54 per dollar; down 18 paise

The Indian rupee slipped in the early trade on Monday. It has opened lower by 18 paise at 62.54 per dollar versus 62.36 Friday. Dollar is off to a sluggish start as underwhelming US data prompted the market to trim long positions.

"The USD-INR pair should trade in a range of 62.30-62.60/dollar for the day."

Expect local government banks to be buyers in the 62.30-62.35/dollar area and exporters to sell on upticks above 62.50/dollar

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