Rupee opens flat at 67.90 per dollar

We expect the Rupee to trade in a range of 67.85-68.10/dollar today, says NS Venkatesh of IDBI Bank.

The Indian rupee opened flat at 67.90 per dollar on Wednesday versus previous close of 67.90. NS Venkatesh of IDBI Bank said, "The rupee closed at 67.90/dollar yesterday aided by dollar sales by banks.
 

The market was volatile with the rupee touching intraday levels of 68.20/dollar." "Volatility is expected even today, and the rupee will take cues from movement in the equity market." "We expect the rupee to trade in a range of 67.85-68.10/dollar today," he added.
 

The US dollar fell to its lowest level in nearly four months as fears of a global economic slowdown pushed investors into safe-haven currencies like the Japanese yen and Swiss Franc.

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