Rupee opens lower at 66.89 per dollar:28.10.2016
Expect it to trade in the 66.80-67.50/dollar range in the near term with a weakening bias, HDFC Bank.
The Indian rupee opened marginally lower at 66.89 per dollar on Friday against previous close 66.86. HDFC Bank said, "The USD-INR pair, despite global dollar strength, continues to trade around the 67/dollar level, with aggressive intervention from Central Bank keeping it in a tight range."" Expect it to trade in the 66.80-67.50/dollar range in the near term with a weakening bias". The US dollar hit its highest in more than seven and a half years amid increased confidence that the Federal Reserve will raise interest rates this year. Traders last saw a more than 78 percent chance that the Fed would hike rates in December.
Expect it to trade in the 66.80-67.50/dollar range in the near term with a weakening bias, HDFC Bank.
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