Dollar-rupee futures depreciated on Tuesday against US dollar. USDINR October contract moved down 1 paisa or 0.02 percent at 61.95 as against previous close of 61.95.
Swastika Investmart expects the rupee to trade on a neutral to negative note against the dollar taking cues from strength in the dollar index and weakness in global markets. However, less positive economic data from US may cap sharp gains in the dollar. Volatility is expected ahead of the RBI monetary policy today and it can be a further tend deciding factor.
Meanwhile, ICICIdirect opined, "The US dollar will garner buying support on declines against the rupee. Utilize declines in the USD/INR October contract to buy. Buy USD/INR October futures in the range of 61.36-61.46 with target 61.65-61.80.''
Sushil Finance expects USDINR to trade positive on the back of improving US economy. The Indian rupee fell on Monday in a volatile session after an upward revision in U.S. quarterly growth data raised concerns about earlierthan-expected interest rate hikes there, while caution also prevailed ahead of the central bank's policy review.
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