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Today rupee decline around one week while oil imported dollar demand dragged,, outweighing support from exporters seen in early trades.Oil is India's biggest import and domestic oil firms are the largest purchasers of the dollar in the local currency market.
the rupee ended at 49.29/30per dollar, near .7% weaker from its preious close(48.945/955).
Rupee future direction is major dependent upon how the euro moves. If the euro falters, then USD/INR pair may probe the 49.50-49.60 level.
"So we have to wait and see the outcome of the EU summit."
the rupee ended at 49.29/30per dollar, near .7% weaker from its preious close(48.945/955).
Rupee future direction is major dependent upon how the euro moves. If the euro falters, then USD/INR pair may probe the 49.50-49.60 level.
"So we have to wait and see the outcome of the EU summit."
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