Indian Rupee expected to trade in the range of 59.80-60.30 - ICICI Bank : Treasury Research

The Indian Rupee opened stronger at 60.03 as compared to yesterday's close of 60.14. The recent measures by RBI and SEBI to curb Rupee volatility coupled with reports that the Central Bank has asked state run OMCs to buy Dollars from a single bank is likely to provide support to the currency. However, the upside is expected to remain capped amidst Dollar strength and downbeat movement in the Euro. The domestic equities would also provide direction to the currency moves. Technically USDINR bullish is expected to trade in the range of 59.80-60.30.

Source : Equity Bulls

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