Rupee opens marginally lower at 66.78 per dollar
The USD-INR pair has been rallying on the back of expectations of passage of GST bill coupled with global risk on sentiment,
The Indian rupee opened marginally lower at 66.78 per dollar on Tuesday versus previous close 66.74.,
"The BoJ inaction last week and weak US GDP numbers have somewhat halted the recent risk rally. The slump in oil prices also will act as a dampener. The USD-INR pair has been rallying on the back of expectations of passage of GST bill coupled with global risk on sentiment."
"However, the gains have been capped by aggressive intervention, and the pair has settled in 66.50-67/dollar range, with 66.50/dollar forming a strong support." The dollar maintained gains against the yen. The dollar, however, did pare some gains after data showed that the US economy's manufacturing sector in July expanded at a slower pace than in the previous month.
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The USD-INR pair has been rallying on the back of expectations of passage of GST bill coupled with global risk on sentiment,
The Indian rupee opened marginally lower at 66.78 per dollar on Tuesday versus previous close 66.74.,
"The BoJ inaction last week and weak US GDP numbers have somewhat halted the recent risk rally. The slump in oil prices also will act as a dampener. The USD-INR pair has been rallying on the back of expectations of passage of GST bill coupled with global risk on sentiment."
"However, the gains have been capped by aggressive intervention, and the pair has settled in 66.50-67/dollar range, with 66.50/dollar forming a strong support." The dollar maintained gains against the yen. The dollar, however, did pare some gains after data showed that the US economy's manufacturing sector in July expanded at a slower pace than in the previous month.
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