Rupee is likely to hold in the range of 67.05-67.75/dollar this week, with focus on US employment data, says Bansi Madhvani of India Ratings.
The Indian rupee opened flat at 67.24 per dollar against previous close of 67.26. Bansi Madhvani of India Ratings said, "Pulling back from recent low of 67.75/dollar, the rupee has staged a sharp recovery driven by correction in dollar strength and strong domestic equity market performance."
"Prospects of Fed rate hike will keep global markets on tenterhooks, but is unlikely to be majorly disruptive for the rupee."
"Rupee is likely to hold in the range of 67.05-67.75/dollar this week, with focus on US employment data," he added. The US dollar was mostly flat against a basket of major currencies after US economic data failed to support expectations for a June or July Federal Reserve interest rate hike.
The Indian rupee opened flat at 67.24 per dollar against previous close of 67.26. Bansi Madhvani of India Ratings said, "Pulling back from recent low of 67.75/dollar, the rupee has staged a sharp recovery driven by correction in dollar strength and strong domestic equity market performance."
"Prospects of Fed rate hike will keep global markets on tenterhooks, but is unlikely to be majorly disruptive for the rupee."
"Rupee is likely to hold in the range of 67.05-67.75/dollar this week, with focus on US employment data," he added. The US dollar was mostly flat against a basket of major currencies after US economic data failed to support expectations for a June or July Federal Reserve interest rate hike.
Read More - Currency updates
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