Dollar/Rupee up on importers demand - IIFL

Dollar/rupee opened up on oil and other importers' demand amid fear that India's industrial output may weaken in May weighing on sentiments.

Dollar/rupee crossed the psychological level of Rs 60/$1 Friday, once again on oil importers demand and after stop-losses of traders were triggered

Dollar/rupee may end below Rs 60/$1 on selling by state-run banks as investors largely ignored the better than expected trade deficit data.

Source : Equity Bulls

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