The Indian Rupee opened slight stronger, at 47.94 against dollar, tracking the losses in dollar. The Asian Markets are trading flat, this morning. The IMF has cut the growth forecast for India and China. The lack of dollar in the market, and the huge demand could weigh on the rupee. The intra-day range for the rupee is seen between 47.80- 48.10 against dollar. At the time of writing, BSE was up by 23 points, trading at 17122 points; Nifty up by 5 points, trading at 5144 points. The Call money is trading at 8.25- 8.30%. The CBLO is at 8.20- 8.25%. The one year forward premium was 118 paisa. The one month NDF is trading weaker at 48.12- 48.22 against dollar. The 10 year yield is seen between 8.32- 8.36%. The dollar index is down by 0.099% at 76.930 points. Rupee still maintains weakness targeting 48.50. Exporter should cover partially at every rupee weakness for near term and hold for long term cover since premiums are low and their is dollar shortage pressurizing rupee. Importers cover on significant corrections towards 47.30-40 levels for 1-2 months. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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