Rupee opens higher at 66.85 per dollar
For the USD-INR pair, the portfolio flows continue to be absorbed by the Central Bank intervention, with the pair trading in the 66.50-67/dollar range, says K.Karthik Raja of Rupeedesk Consultancy.
The Indian rupee opened marginally higher at 66.85 per dollar on Tuesday versus 66.89 Friday. K.Karthik Raja of Rupeedesk Consultancy said, "The expectations of more stimulus from Japan and China, coupled with jump in global oil prices, is helping the global positive sentiment. The markets will also await the Fed July FOMC meeting minutes to get some cues about future hikes."
"For the USD-INR pair, the portfolio flows continue to be absorbed by the Central Bank intervention, with the pair trading in the 66.50-67/dollar range, he added. Also Read - RBI should continue with Rajan's policies on inflation:Moody's The dollar fell against a basket of currencies, undermined by recent soft US economic data that tempered expectations of a Federal Reserve interest rate hike this year.
For the USD-INR pair, the portfolio flows continue to be absorbed by the Central Bank intervention, with the pair trading in the 66.50-67/dollar range, says K.Karthik Raja of Rupeedesk Consultancy.
The Indian rupee opened marginally higher at 66.85 per dollar on Tuesday versus 66.89 Friday. K.Karthik Raja of Rupeedesk Consultancy said, "The expectations of more stimulus from Japan and China, coupled with jump in global oil prices, is helping the global positive sentiment. The markets will also await the Fed July FOMC meeting minutes to get some cues about future hikes."
"For the USD-INR pair, the portfolio flows continue to be absorbed by the Central Bank intervention, with the pair trading in the 66.50-67/dollar range, he added. Also Read - RBI should continue with Rajan's policies on inflation:Moody's The dollar fell against a basket of currencies, undermined by recent soft US economic data that tempered expectations of a Federal Reserve interest rate hike this year.