The Indian rupee started off Wednesday's trade on positive note. The currency has opened at 66.68 a dollar, up 16 paise compared with 66.84 a dollar in previous session.
NS Venkatesh of IDBI Bank says the rupee seems to strengthen because of growing confidence that the Federal Reserve will hike rates in this year.
According to him, the rupee is expected to trade today in a range of 66.85-67.05 per dollar. Meanwhile, the British pound fell after a Bank of England policymaker said that more quantitative easing was probably necessary if the UK’s economic decline worsens.
NS Venkatesh of IDBI Bank says the rupee seems to strengthen because of growing confidence that the Federal Reserve will hike rates in this year.
According to him, the rupee is expected to trade today in a range of 66.85-67.05 per dollar. Meanwhile, the British pound fell after a Bank of England policymaker said that more quantitative easing was probably necessary if the UK’s economic decline worsens.
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