The Indian rupee opened marginally higher by 4 paise at 66.80 per dollar on Friday versus 66.84 Thursday.
US DOLLAR INDEX (USD)
The American currency surged by 0.2 percent yesterday owing to the robust release of economic data sets from the nation. N umber of Americans filing applications for unemployment benefits fell in the last week. Moreover, year on year import prices are still clawing back from the negative. M arkets are still discount ing the robust release of ADP and NFP employment data from the nation that came far better than the expected levels in July’16. Amid uncertain global conditions, there has been a decent dem and for workers which clearly indicates that the labour markets have finally found some stability. US Dollar Index made an intrad ay high of 95. 91 and closed at 95. 84 levels on Thursday
OUTLOOK
Rupee is likely to appreciate as higher trading in the Asian market equities will govern the trend of the Indian markets and its currency.
US DOLLAR INDEX (USD)
The American currency surged by 0.2 percent yesterday owing to the robust release of economic data sets from the nation. N umber of Americans filing applications for unemployment benefits fell in the last week. Moreover, year on year import prices are still clawing back from the negative. M arkets are still discount ing the robust release of ADP and NFP employment data from the nation that came far better than the expected levels in July’16. Amid uncertain global conditions, there has been a decent dem and for workers which clearly indicates that the labour markets have finally found some stability. US Dollar Index made an intrad ay high of 95. 91 and closed at 95. 84 levels on Thursday
OUTLOOK
Rupee is likely to appreciate as higher trading in the Asian market equities will govern the trend of the Indian markets and its currency.
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