Date: 1st Jan 2014
Today Rupee opened at 61.8350 above yesterday closing at 61.80. Dollar pressure was strong till noon session, touch 61.98 at 11.37 am. Later, Rupee traded strong against Dollar, appreciated and reaches near today opening price at 61.82. Today Rupee closed at 61.90, decline by 10 paisa compare to today opening level.
RBI Governor Rajan may take step toward Interest rate, if Inflation data rise in December month. Rupee raises 0.88% last month among Asian currencies, but yearly decline 11.66%.However, Rupee is expected to be range bound till Inflation data release on 13th January. Rupee is expected to be in the range of 61.50-62.70 till Inflation data release.