Rupee slips 21 paise, opens at 66.63 per dollar

The Rupee is expected to hold in the 66.05-66.85/dollar range, says Bansi Madhvani of India Ratings. 

 

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 21 paise at 66.63 per dollar versus 66.42 Tuesday.
 

Bansi Madhvani of India Ratings said, "A weak opening in the global stock markets is likely to keep rupee under pressure, this morning."
 

"With the prospects of Fed rate hike in June still on the table, EM currencies are trading in red. The rupee is expected to hold in the 66.05-66.85/dollar range," he added.
 

The dollar rebounded, with Federal Reserve Bank of Atlanta chief Dennis Lockhart bringing the prospect of a June rate hike back into play. Yen holds around 106. 

 

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