Dollar/rupee opened at 15-week low Monday on higher risk appetite after robust economic data from US as jobs scenario improved and manufacturing rose to 9-month high and China's non-manufacturing PMI rose to four-month high indicating a revival in growth in world's top two economies
Dollar/rupee may fall to four-month low this week amid expectations of higher overseas inflows ahead of the government's stake sale in NTPC Ltd. this month and on view euro could test its 16-month high
Dollar/rupee rebounded in evening trades Monday on demand for dollars from oil importers at lower levels and tracking fall in euro.
Euro/dollar snapped four-day gains Monday on political uncertainty in Spain as Spanish Prime Minister Mariano Rajoy faces corruption allegations and after unemployment in Spain rose
Euro/dollar also fell on comments by German finance minister reminding that euro-zone crisis is far from over which dampened investor sentiments and forced them to book profits after reaching 15-month high.
USD-INR SPOT RATE
Prices have support at 52.85 and resistance at 53.50
NSE USD-INR FUTURE
Prices have support at 53 and resistance at 53.70
EUR-USD (1.3492): Prices have support at 1.3430 and resistance at 1.3530.
US Dollar Index (79.64): Prices have support at 79 and resistance level at 80.20.
INR Currency Future view
EUR-INR (Close: 71.89): Prices have support at 71.60 and resistance at 72.30.
GBP-INR (Close: 83.87): Prices have support at 83 and resistance at 84.20.
JPY-INR (Close: 57.64): Prices have support at 57 and resistance at 58.