Wednesday, 22 June 2016

Rupee declines further, opens at 67.59 per dollar

The rupee is expected to trade sideways in a range of 67.20-67.80/dollar considering mixed cues from global equity markets, says Pramit Brahmbhatt of Veracity. 

The Indian rupee declined in the early trade on Wednesday. It has opened lower by 10 paise at 67.59 per dollar against previous close of 67.49.

Pramit Brahmbhatt of Veracity said, "The rupee is expected to trade sideways in a range of 67.20-67.80/dollar considering mixed cues from global equity markets, the dollar index and nervousness ahead of the EU referendum."

Also Read -  Rexit will not have any impact on RBI: SBI Research 

The dollar edged after news that a new poll on Britain's referendum on european union membership showed growing support for the leave camp, pushing down the euro and sterling. Meanwhile the euro dropped the most in a week after European Central Bank President Mario Draghi reiterated his willingness to act to bolster inflation.
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