Mumbai: In today’s initial trade, the Indian rupee is trading with a weakness against the US dollar. The rupee depreciated 16 paise, to 73.78 against the US dollar in early trade today. Earlier in the session, the rupee stood at 73.62 per dollar against the US dollar.
According to Anuj Gupta, Deputy Vice President (Energy & Currency), Angel Broking, the rupee can be targeted at 73.30 in the intra-day october futures at a price of 73.80. A stolos of Rs 74.10 should be put up for this rupee deal. According to Ajay Kedia, managing director, Kdia Advisory, the intra-day rupee can be purchased at a target of Rs 73.9-74.1 at a price of 73.75. He has advised to install a 73.55 stolos for the contract.
According to Veeresh Hiramath, head research at Carvi Comtrade, the rupee futures in today’s trading can be purchased at a target of 74 to 73.75. A stolos of 73.60 can be applied for this deal. According to Amit Sajja, assistant vice president (commodity and currency) of Motilal Oswal, the rupee can make a purchase of 73.65 for a target of 74 in October futures in today’s trading. A stolos of 73.45 can be applied for this deal.
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