Rupee opens marginally weak at 59.33 to the dollar

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Rupee opens marginally weak at 59.33 to the dollar
The rupee opened the day marginally weak at 59.33 to the dollar, as against Tuesday's close of 59.29. The rupee has been trading in a range for the last few days and analysts do not see any heightened volatility for the currency in the absence of any major cues.

The Union Budget to be presented in the Month of July is likely to be the next big trigger for the rupee. Any move to further liberalise dollar inflows by way of FDI and other measures is likely to see gains in the Indian rupee.

However, significant upside is ruled out as it's possible that the RBI may mop-up dollars to protect Indian exporters and ensure the currency does not gain substantially. check currency rates here

Read more about: dollar
Story first published: Wednesday, June 11, 2014, 9:07 [IST]
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