Rupee opens higher at 66.55 per dollar : 04.10.2016
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We expect the pair to trade in the 66.30-66.80/dollar range in the near term, with strong FII and FDI inflows to continue
The Indian rupee opened with marginal gains at 66.55 per dollar on Tuesday versus 66.59 Monday. "The 2-day MPC meeting concludes today, with markets expecting Reserve Bank of India (RBI) to maintain a status quo. However, a surprise cut can pleasantly surprise the markets. The USD-INR pair after briefly approaching 67/dollar levels is back to 66.50/dollar." "We expect the pair to trade in the 66.30-66.80/dollar range in the near term, with strong FII and FDI inflows to continue," he added. Also Read - Unchanged rate expected in Urjit Patels maiden policy The dollar extended gains against the yen to the longest streak since August as a report showed US manufacturing expanded in September after unexpectedly shrinking a month earlier.
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The Indian rupee opened with marginal gains at 66.55 per dollar on Tuesday versus 66.59 Monday. "The 2-day MPC meeting concludes today, with markets expecting Reserve Bank of India (RBI) to maintain a status quo. However, a surprise cut can pleasantly surprise the markets. The USD-INR pair after briefly approaching 67/dollar levels is back to 66.50/dollar." "We expect the pair to trade in the 66.30-66.80/dollar range in the near term, with strong FII and FDI inflows to continue," he added. Also Read - Unchanged rate expected in Urjit Patels maiden policy The dollar extended gains against the yen to the longest streak since August as a report showed US manufacturing expanded in September after unexpectedly shrinking a month earlier.