On second consecutive day the Indian rupee appreciated by 0.2 percent. Rupee moved in tandem with domestic indices and fluctuated but later on it recouped.
Moreover dollar index remained weak during trading session on account of euro weighing on it. Rupee not appreciated until mid-noon as expectation of more importers weighing rupee to appreciate.
The spot rupee opened at 46.705 and made an intraday low of 46.78 while settled at 46.605, down by 0.2 percent.
OUTLOOK
Asian equities are trading low after the Wall Street ended in red as US released higher continuing claims and lower manufacturing data. Dow Jones closed marginally lower by 0.07 percent.
The dollar index opened at 82.442 and tick intraday high of 82.511 in morning hours, now trading up by 0.09 percent. Slowdown in US manufacturing data will lower export. This might impact on domestic indices also.
Overall, we are expecting rupee to depreciate in opening hours and then slightly recouped.
