Rupee opens flat at 60.18 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, June 24, 2014, 9:09 [IST]

The rupee was trading flat in opening trade at 60.18 against the dollar. The currency had closed at 60.20 against the dollar on Monday.

After witnessing some volatility last week, following worries over the Iraq conflict, the rupee has been trading in a range since the start of the week.

Dealers say that the currency may remain volatile ahead of the Union Budget scheduled for July 10. Any large scale measures implemented in the Union Budget, particularly with regards to FDI in sectors, could lead to appreciation in the rupee, particularly in view of the fact that there could be dollar inflows into the country.

The rupee has staged a smart recovery this year, after having fallen to its lowest level since the start of the year. check currency rates here

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