Thursday, 3 September 2015

Rupee opens lower at 66.25 per dollar

With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

The Indian rupee has opened lower by 6 paise at 66.25 per dollar on Thursday against previous day's closing of 66.19.

Mohan Shenoi of Kotak Mahindra Bank said, "Currency markets remain volatile as concerns about China continue to impact all markets. ECB rate setting meeting later today and US Payroll data tomorrow will determine the near-term direction of the market."

"With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar," he added.

Also Read - See FY16 GDP growth 7.8%; RBI may cut rate Sep 29: Barclays

The dollar gained as global stock markets steadied and US hiring data encouraged speculation that Federal Reserve policymakers will raise interest rates later this month.
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1 comment:

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