1. Indian rupee may rise towards 68-69 to the US dollar: Citi

Indian rupee may rise towards 68-69 to the US dollar: Citi

Indian rupee may rise towards 68-69 if the pair closes above 63 on Friday, Citi said in its report on technicals.

By: | Updated: April 24, 2015 12:55 PM
Indian rupee vs dollar

Indian rupee may rise towards 68-69 if the pair closes above 63 on Friday, Citi said in its report on technicals. (PTI)

Indian rupee may rise towards 68-69 if the pair closes above 63 on Friday, Citi said in its report on technicals.

Pair may touch 69.60 in 6-7 weeks due to a “bullish break” in the market, Citi said.

Sell-off in Indian equities after large dollar inflows in last 12 months could lead to foreign money flowing out, which in turn could put additional pressure on the rupee.

Previous two bullish breaks in the rupee were followed by a 11 pct rally over 6 weeks and 11.25 pct over 7 weeks, according to Citi’s technical call.

Indian shares showing signs of caution and a break below 8,025-8,270 for the NSE index could lead to losses of over 20 pct.

Rupee ended at 63.32/33, its lowest level since Jan. 6 on Thursday.

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Tags: Indian Rupee
  1. A
    ahmed
    May 1, 2015 at 8:59 pm
    Doctor go to
    Reply
    1. Chandu Chartist
      May 7, 2015 at 10:07 am
      AS PROMISED BY NAMO BEFORE ELECTION $ WILL TEST AGE OF FORMER P.M. MAUNMOHANSINGH AND NAMO BELEAVES THAT PROMISE TO KEEP BEFORE HE GOING TO SLEEP .......................HA....HA............HA
      Reply
      1. G
        GG
        Apr 24, 2015 at 1:10 pm
        It should be "fall to 68-69" not "rise towards 68-69" for God sake this is a finance newspaper, please be correct on basics.
        Reply
        1. Raj chand
          Aug 18, 2015 at 1:40 pm
          hi
          Reply
          1. S
            Sadasivan
            Apr 26, 2015 at 12:43 am
            Everything 's lost for want of a good Economist ,in the NDA,who cares for India [With apologies to:- " For want of a nail the horse was lost For want of a horse the battle was lost For want of a Horse-Shoe-nail the Kingdom was lost]
            Reply
            1. S
              Sadasivan
              Apr 26, 2015 at 12:43 am
              Hm.........lets think a bit. 1.Jaitley was in the spring Meet of the IMF and the WB from 14th to the 20th instant,though his meeting "proper' was due to start on the 17th.This is a very long time for a minister to spend on.Obviously IMF has many orders and this is one among them. 2.RBI team was also there for a lesser duration. 3.Put two and two together. 4.Jaitley is quite busy now! 5.If this happens the wealth of Indians will again be destro and the Rich-Poor gap,already high will RISE further. India better get out of G 20 and be a truly Sovereign nation. Everything 's lost for want of a good Economist ,in the NDA,who cares for India [With apologies to:- " For want of a nail the horse was lost For want of a horse the battle was lost For want of a Horse-Shoe-nail the Kingdom was lost]
              Reply
              1. S
                Sadasivan
                Apr 26, 2015 at 12:37 am
                The misuse of the word is deliberate and is a trick of the Globalists,pla on the mes by the vested interests.
                Reply
                1. D
                  dr vaithyan
                  Apr 27, 2015 at 7:45 am
                  MODI Govt is only in talking no results. FM has done nothing for the past one year. India is going to be in worst shape than previous govt.
                  Reply
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