Wednesday, 24 February 2016

Rupee opens lower by 8 paise at 68.65 per dollar



The USD-INR pair is expected to take cues from the equity market today and trade in the range of 68.48-68.62/dollar, says NS Venkatesh of IDBI Bank.

The Indian rupee has opened lower by 8 paise at 68.65 per dollar on Wednesday against previous close of 68.57.

NS Venkatesh of IDBI Bank said, "The rupee strengthened marginally and closed at 68.59/dollar on account of dollar sales by PSU banks."

"The rupee has been one of the worst performers in the Asian currencies this calendar year with a depreciation of 3.55 percent."

"The USD-INR pair is expected to take cues from the equity market today and trade in the range of 68.48-68.62/dollar," he added.

Also Read - Rupee may weaken but no vicious sell-off seen: Citi's Vaish

The Japanese currency climbed to a two-week peak against the dollar as fall in equities revives demand for safe-haven currencies.
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