Rupee Trades Marginally Lower at 61.54 to The Dollar

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The Rupee was trading marginally lower to the Dollar at 61.54 in opening trade. The currency had closed at 61.50 to the dollar on Monday.

Rupee Trades Marginally Lower at 61.54 to The Dollar
Sustained inflows from foreign funds into Indian equities and a sharp drop in crude prices would continue to bolster the rupee. In fact, since India imports 70 per cent of crude requirements a drop in crude prices could support the rupee, as there is significant dollar inflows on this count.

Dealers say the rupee would continue to trade steady also on the back of a gush in foreign flows into Indian equities in the last few weeks.

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Read more about: dollar, currency
Story first published: Tuesday, November 11, 2014, 9:25 [IST]
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