Re has support at 50.56: Alex Mathew
First major resistance for the rupee is at 49.03 per dollar and the major support is at 50.56 per dollar. The 200-day moving major is at 47.73 per dollar.
Updated:
By Alex Mathew (Head, Research, Geojit BNP Paribas Financial Services)
First major resistance for the rupee is at 49.03 per dollar and the major support is at 50.56 per dollar. The 200-day moving major is at 47.73 per dollar.
Over a period of time, the rupee may touch this level, as the measures of RBI like market intervention, opening the overseas borrowing window for micro finance companies, deregulation of interest rates on NRE deposits play out.
The Dollar Index is looking slightly week as the Federal Reserve has decided to keep the interest rates near zero till 2014. As long as the interest rates are low and inflation is also set at low levels at 2%, the yields on US treasuries will continue to remain low.
First major resistance for the rupee is at 49.03 per dollar and the major support is at 50.56 per dollar. The 200-day moving major is at 47.73 per dollar.
Over a period of time, the rupee may touch this level, as the measures of RBI like market intervention, opening the overseas borrowing window for micro finance companies, deregulation of interest rates on NRE deposits play out.
The Dollar Index is looking slightly week as the Federal Reserve has decided to keep the interest rates near zero till 2014. As long as the interest rates are low and inflation is also set at low levels at 2%, the yields on US treasuries will continue to remain low.
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Meet Alex Mathew, a communications officer by the day and a feminist drag queen at nightADVERTISEMENT
