Indian rupee extended its weakness for the second consecutive day against the US dollar on Friday tracking weakness in domestic shares coupled with persistent dollar demand for defence related payment held.
Today, Indian rupee is expected to open moderately stronger against the US dollar vs 52.96/97, as due to an improved risk appetite and positive opening for Indian stocks. But gains in the INR is expected to be limited due to continuing uncertainties over the eurozone`s debt problems, especially after 10-year Italian bond yield once again topped above 7%.
Today, Indian rupee is expected to open moderately stronger against the US dollar vs 52.96/97, as due to an improved risk appetite and positive opening for Indian stocks. But gains in the INR is expected to be limited due to continuing uncertainties over the eurozone`s debt problems, especially after 10-year Italian bond yield once again topped above 7%.
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