We expect the USD-INR to trade in a range of 66.80-67.20/dollar, says Mohan Shenoi of Kotak Mahindra Bank.
The Indian rupee gained past 67 a dollar in early trade Thursday on fall in US dollar post dovish FOMC statement. It has opened higher by 32 paise at 66.90 per dollar versus 67.22 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "A dovish FOMC statement weakened US dollar against all major currencies. Oil & gold prices saw upward movement."
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Mohan Shenoi of Kotak Mahindra Bank said, "A dovish FOMC statement weakened US dollar against all major currencies. Oil & gold prices saw upward movement." "We expect the USD-INR to trade in a range of 66.80-67.20/dollar," he added. The dollar fell against major currencies after the Federal Reserve kept interest rates unchanged but reduced its expectations for interest rate hikes in 2016 to two from four on Wednesday
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