Indian Rupee weakened to a fresh nine-month lows of 62.23 against US dollar levels spot...
Indian rupee weakened to a fresh nine-month lows of 62.23 against US dollar levels spot, as government eased the curbs on gold imports and economic growth for second quarter was weak.
However, exporter selling and FII sales brought the Rupee down towards 62.00 levels by the close of day. Over this week, we expect the pair to trade within a range of 61.60/80 and 62.30/40 levels on spot.
RBI monetary policy and US November jobs report will be key data points.
By Anindya Banerjee, currency analyst, Kotak Securities.