Active MCX-SX Jan’10 futures closed at 46.08. Immediate supports are around 45.90/45.80 ranges, followed by 45.60/45.50.
Immediate resistances are between 46.30/46.40 followed by 46.60/46.70 levels. The MCX-SX INR Jan’10 Rupee futures registered an open interest of 472955 for the session.
It registered a decrease in volume by 4.16 over its earlier session.
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Earlier, January Rupee futures opened at 46.10. The BSE Sensex opened at 17578 , 79 points lower from its previous close.
The rupee fell to its two-weekly lows today, pressured by the dollar's strength overseas after strong Chinese growth data and a weak start to the domestic equity markets.
Chinese economy grew by 8.7 percent in 2009, beating its growth target after a blistering performance in the fourth quarter, and setting it up to jump over Japan this year to become the world's second-largest economy.
The euro briefly touched a five-month low against the dollar today after the Chinese growth data. The index of the dollar against six major currencies was up 0.14 percent.
The government is exploring an increase in the income-tax exemption limit for individuals to compensate for the recent spike in inflation.
The fiscal deficit for the current year is pegged at a 16-year high of 6.8%. Most Asian stock markets dropped Thursday after China's economy surged last quarter, adding to worries about Beijing's ability to prevent overheating without derailing the recovery.
