MY:Rupee falls marginally against US dollar in opening trade
Indian rupee slightly lower against the greenback in morning trade on Thursday. Rupee was down by 4 paise or 0.04% against USD at Rs 54.38 compared to previous close of 54.36 (09.47 a.m.).
In the spot market, the Dollar Index decreased 0.04% to 83.18 (00:06 ET). Euro - USD was trading at 1.27 down 0.01% while USD - Japanese Yen was trading at 94.13 down 0.35% (00:09 ET).
Commenting on outlook for currency, Emkay Global Financial Services said, ''USDINR prices are likely to extend its gains towards 54.50 followed by 54.90 levels in near term from current levels. Till price manages to trade above 100-Day EMA of 54.26 our bias remains firm. We expect Indian rupee to fall further as weaker Euro internationally after poor Italian bond sale can push dollar higher against INR.''
At 9.49 a.m, the Sensex was trading down 72.52 points or 0.39% at 18,632.01 with 19 components falling. Meanwhile, the Nifty was trading lower by 17.75 points or 0.31% at 5,623.85 with 32 components falling.
