Indian Forex Tips Today- Tuesday 15th November 2011

Indian rupee opened lower tracking declines in riskier currencies against the US dollar as investors turn risk-averse again on persisting concerns over Italy`s debt situation. For now, it seems all negative headlines are out due to which Rupee had already suffered its worst since end August. Its double whammy weakness due to lower growth and high Inflation seems to soon come an end. Therefore a higher move is expected today in USD/INR to 50.30/40 vs. 50.17 in spot would definitely a sell on rally bias.