Rupee Opens Higher At 66.35 per Dollar

The USD-INR pair continues to trade the 66-67/dollar range with good portfolio flows continuing, says Ashutosh Raina of HDFC Bank. 

The Indian rupee opened higher by 9 paise at 66.35 per dollar on Tuesday against previous close of 66.44. Ashutosh Raina of HDFC Bank said, "A weakening USD, with dollar index touching 92.54 levels, fully retracing the rally since China FX move last year, have steadily boosted global stock markets and resulted in return of some risk-on sentiment."

He further added, "The USD-INR pair continues to trade the 66-67/dollar range with good portfolio flows continuing."

"We expect the pair to continue trading this range with an appreciating bias, although sharp gains may be capped by some intervention," he said. The yen held steady at around 106 per dollar, close to its strongest level since October 2014, meanwhile the euro rise to 1.15 against the dollar.

Read More - Currency Tips

Browse More Articles

Tweet

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.