Rupee opens lower at 66.93 per dollar:10/25/2016
The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85.
The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85. HDFC Bank said, "The dollar index touched 9-month high of 98.85, with dollar continuing to rise against basket of major currencies on expectations of Fed hiking rates in December, with probability of December hike rising to almost 80 percent.""The USD-INR pair continues to trade weak close to 67/dollar levels. We expect the pair to trade weak on the back of strong dollar and also the FCNR redemptions." The US dollar hovered near a roughly nine-month high against a basket of major currencies and touched a one-week high against the yen on growing expectations of a Federal Reserve interest rate increase in December.
The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85.
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The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85. HDFC Bank said, "The dollar index touched 9-month high of 98.85, with dollar continuing to rise against basket of major currencies on expectations of Fed hiking rates in December, with probability of December hike rising to almost 80 percent.""The USD-INR pair continues to trade weak close to 67/dollar levels. We expect the pair to trade weak on the back of strong dollar and also the FCNR redemptions." The US dollar hovered near a roughly nine-month high against a basket of major currencies and touched a one-week high against the yen on growing expectations of a Federal Reserve interest rate increase in December.