Rupee Opens at 66.78 per Dollar; Down 16 paise

We expect the USD-INR pair to weaken in short term with expected trading range of 66.50-67/dollar, says Ashutosh Raina of HDFC Bank. 

 

The Indian rupee slipped in the early trade on Friday. It has opened lower by 16 paise at 66.78 per dollar against previous close of 66.62.
 

Ashutosh Raina of HDFC Bank said, "The global risk-off coupled with weak IIP and CPI numbers are expected to weigh on Indian markets."
 

"We expect the USD-INR pair to weaken in short term with expected trading range of 66.50-67/dollar," he added.
 

The dollar gained against the yen after Japan's Central Bank governor said there was more room to ease monetary policy if needed.
 

Yen fell to a two week low pressured by speculation that the Bank Of Japan could expand its monetary stimulus as soon as next month. 

 

Read More -  Currency Updates

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