Dollar-rupee futures appreciated on Monday against US dollar. USDINR September contract went up 36 paise or 0.59% at 61.24 as against previous close of 60.88.
ICICIdirect expects the US dollar to garner buying support on declines against the rupee. ''Utilize declines in the USD/INR September contract to buy. Buy USD/INR September futures in the range of 60.88-60.98 with target 61.15-61.35.''
''SPOT USDINR prices are expected to have support at 60.85 and buying can be seen there. Prices on higher side can give fresh breakout above 61 and can move higher towards 61.20. Prices should not fall below 60.70 to maintain positive outlook for the day,'' said Emkay Global Financial Services.
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