The Indian rupee opened higher by 12 paise at 67.63 per dollar on Wednesday against previous close of 67.75. Bansi Madhvani of India Ratings said,
"A strong US dollar, an uptick in oil prices, and overall weak portfolio flows are likely to keep the rupee under pressure in the near term."
"Persistence of dollar strength and consequent shift in risk appetite will continue weighing on the currency ahead of Fed's June policy meeting."
"We expect the rupee to stay in 67.05-67.75/dollar range this week," he added.
The US dollar hit its highest level against the euro in more than eight weeks and rallied against the yen and Swiss franc on increased expectations for an interest rate hike in coming months from the US Federal Reserve.
"A strong US dollar, an uptick in oil prices, and overall weak portfolio flows are likely to keep the rupee under pressure in the near term."
"Persistence of dollar strength and consequent shift in risk appetite will continue weighing on the currency ahead of Fed's June policy meeting."
"We expect the rupee to stay in 67.05-67.75/dollar range this week," he added.
The US dollar hit its highest level against the euro in more than eight weeks and rallied against the yen and Swiss franc on increased expectations for an interest rate hike in coming months from the US Federal Reserve.
Written by Unknown
We are Creative Blogger Theme Wavers which provides user friendly, effective and easy to use themes. Each support has free and providing HD support screen casting.
0 comments:
Post a Comment