23 August, 2014 14:57 IST
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Currency outlook from Emkay
Source: IRIS (23-NOV-12)
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``Intraday appreciation is possible; 54.80 forms a good support level to arrest any major appreciation. Upside is limited to 55.40/55,50. Overall trend remains firm unless prices break below 54.70,`` said Emkay Global Financial Services.

The partially convertible rupee closed at 55.21/22 per dollar compared with 55.11/12 at Wednesday's close.

Rupee weakened for a third straight session on Thursday as persistent dollar buying by oil refiners and absence of major dollar inflows due to a holiday in the US.   

The Euro rose to a 3 week high against the dollar helped by better than expected euro zone data.        

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