``Rupee is likely to be weak on negative global market cues. In the spot market, the Dollar Index dropped 0.02% to 81.62. It touched a high of 81.72 and a low of 81.61 after opening at 81.61. Tips pair likely to open around 46.80. Tips pair likely to trade in 46.60-46.90 band in session. Foreign funds were net Buyer of a provisional Rs 5.78 billion worth of Indian stocks Thursday,`` said the broking house Indira Securities.
Anagram:
``Indian rupee is likely to open flat to slightly lower after U.S. stocks end down and appreciation in yen and swiss franc, the two safe haven currencies signal some sense of risk aversion is imminent. However it may reverse course at its earliest and would rise on continued active selling of dollars by local exporters to meet monthend settlements. Also if local shares show resilience to losses on Wall Street overnight, it will also likely give INR a boost. Later in the global day, U.S 2Q GDP is due to release which is tipped at +2.5% annualized, down from +2.7% in 1Q. So if slowing of economic growth confirms it may weight on the dollar and lead to more firmness in EUR/USD,`` notes brokerage house Anagram
