Tuesday, 12 July 2016

Rupee opens marginally lower at 67.17 per dollar

The USD-INR pair is expected to trade in the 66.90-67.50/dollar range with an appreciating bias, says Ashutosh Raina of HDFC Bank. 

The Indian rupee opened marginally lower by 5 paise at 67.17 per dollar on Tuesday versus 67.12 Monday.

Ashutosh Raina of HDFC Bank said, "The robust non-farm payroll number has triggered a global risk-on rally, as concerns about US economy losing momentum have been set aside. This coupled with expectations of more stimulus measures around the world has resulted in risk rallies across and EM currencies reacting higher against dollar."

"The USD-INR pair is expected to trade in the 66.90-67.50/dollar range with an appreciating bias," he said.

The dollar near a one-week high against the yen following Japanese Prime Minister Shinzo Abe's call for a fresh round of fiscal stimulus.

Also pound gained as Theresa May is set to be UK PM after Andrea Leadsom quit.
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2 comments:

Neha Agrawal said...

Exchange rate changes on the basis of growth and inflation of the country. It influence the prices of commodity and shares. Epic Research provides the updates of price changes to the investors on time.

Alisha Singh said...

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