Dollar-rupee futures weakened on Thursday against US dollar. USDINR December contract went down 3 paise or 0.05 percent at 62.22 as against previous close of 62.25. The most active December contract recorded a high of 62.23 and a low of 62.17 after opening at 62.23.
ICICIdirect expects the US dollar to garner buying support on declines against the rupee. Utilise declines in the USD/INR December contract to buy. ''Buy USD/INR November futures in the range of 61.99-62.09 with target 62.28-62.40.''
Meanwhile, Swastika Investmart expects the rupee to trade on neutral to positive note against the dollar taking cues from less positive than expected economic data from US. However weakness in some global markets and month end dollar demand by importers may cap sharp gains in the rupee.
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