Wednesday, 25 January 2017

Rupee opens lower at 68.17 per dollar

The trading range is seen between 68.10-68.40/dollar till the Reserve Bank of India (RBI) monetary policy, says Tirthankar Patnaik of Mizuho Bank. 

The Indian rupee opened marginally lower at 68.17 per dollar on Wednesday against previous close 68.15.

Tirthankar Patnaik of Mizuho Bank said, "The USD-INR pair is expected to remain slightly under pressure given the strength in the dollar index over the last 2 weeks. We see muted sentiment before the Budget."

"The trading range is seen between 68.10-68.40/dollar till the Reserve Bank of India (RBI) monetary policy," he added.

The US dollar held firm against the yen and euro, after several days of losses in the wake of President Donald Trump's inaugural speech promising more trade protectionism, with the US economic outlook still seen better than that of Europe or Japan.
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