The Indian Rupee depreciated around 0.5 percent and tested the level of 61-mark on Wednesday. The currency depreciated on the back of dollar demand from oil importers and its companies.
However, upbeat domestic market sentiments along with revival of foreign inflows into equity markets restricted downside movement in the currency. Also, weakness in the DX prevented sharp fall in the currency. The Indian Rupee touched an intra-day low of 61.19 and closed at 61.09 on Wednesday.
For the month of April 2014, FII inflows totaled at Rs.7601 crores ($1265.65 million) as on 23rd April 2014. Year to date basis, net capital inflows stood at Rs.29796.70 crores ($4916.0 million) as on 23rd April 2014.
From the intra-day perspective, we expect Indian Rupee to trade on a mixed note on the back of weakness in the DX coupled with revival of foreign inflows into equities will support an upside in the currency. While on the other hand, dollar demand from importers coupled with mixed market sentiments will exert downside pressure in the currency.
www.punjiniveshonline.com
www.punjiniveshonline.com
However, upbeat domestic market sentiments along with revival of foreign inflows into equity markets restricted downside movement in the currency. Also, weakness in the DX prevented sharp fall in the currency. The Indian Rupee touched an intra-day low of 61.19 and closed at 61.09 on Wednesday.
For the month of April 2014, FII inflows totaled at Rs.7601 crores ($1265.65 million) as on 23rd April 2014. Year to date basis, net capital inflows stood at Rs.29796.70 crores ($4916.0 million) as on 23rd April 2014.
From the intra-day perspective, we expect Indian Rupee to trade on a mixed note on the back of weakness in the DX coupled with revival of foreign inflows into equities will support an upside in the currency. While on the other hand, dollar demand from importers coupled with mixed market sentiments will exert downside pressure in the currency.
www.punjiniveshonline.com
www.punjiniveshonline.com
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