Rupee Opens Flat at 66.63 per Dollar.

Expect the USD-INR currency pair will continue trading in 66-67/dollar range on the back of strong portfolio flows, says Ashutosh Raina of HDFC.

The Indian rupee opened flat at 66.63 per dollar on Monday against Wednesday's closing of 66.64. Ashutosh Raina of HDFC said, "The failure of talks between the oil exporting countries in Doha can result in return of some risk off sentiment, in turn impacting currencies." "However, expect the USD-INR currency pair will continue trading in 66-67/dollar range on the back of strong portfolio flows," he added. Commodity currencies slumped while the safe-haven yen soared after global oil producers fail to agree on an output freeze, sending oil prices tumbling anew. 

 

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