The
Indian rupee opened flat at 60.11 per dollar versus 60.13 yesterday. "The
rupee could be weak on overnight dollar strengthening. The range for the day is
seen between 60.10-60.40.Demand from oil
importers and the much expected inflows for the HUL open offer led to rupee volatility yesterday. The rupee could
be weak on overnight dollar strengthening.
The range for the day is seen
between 60.10-60.40/USD. The markets always have a tendency to forecast in the
direction in which there is a sharp move and obviously at this time the
consensus is that there is more weakness to come. It is very hard to say
whether we will actually see 65 or will the rupee top out around the 62-63 mark, but one
thing is quite clear that right now it is very hard to say that the rupee has
topped out already. 
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