Friday, 17 July 2015

Rupee opens flat at 63.51 per dollar

We expect the USD-INR pair to trade in a range of 65.34-63.75/dollar today, says Himanshu Arora of Religare.

The Indian rupee has opened flat at 63.51 per dollar on Friday against 63.51 Thursday.

Himanshu Arora of Religare said, "The USD-INR pair is expected to trade slightly higher today amid latest comments from Fed Chair, Janet Yellen, that they plan to hike rates this year on back of strengthening US economy."

"Forecast issued by the FOMC in June implied two 25 bps rate rises this year. We expect the USD-INR pair to trade in a range of 65.34-63.75/dollar today," he added.

Also Read - Why RBI may not cut rates after latest CPI & WPI numbers?

The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike.


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