Rupee rises further; opens 11 paise higher at 67.23 per Dollar

We expect the USD-INR to trade in a range of 67.20-67.80/dollar today, says Pramit Brahmbhatt of Veracity.

 

The Indian rupee gained further in the early trade on Friday. It opened higher by 11 paise at 67.23 per dollar versus previous close 67.34. Pramit Brahmbhatt of Veracity said, "We expect rupee to test 67.20/dollar levels. This may act as a technical hurdle and we expect some weakness post this level." "Any profit booking in domestic equities will also help dollar gain. We expect the USD-INR to trade in a range of 67.20-67.80/dollar today," .

Dollar fell versus the euro after data showing a decline in US service sector employment added to worries over today's monthly US jobs data.
 

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