Wednesday, 23 November 2016

Rupee hits 8-month low, opens 11 paise lower at 68.36/$

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The Indian rupee has touched 8-month low in early trade. It has opened at 68.36 against the US dollar, down 11 paise compared with previous settlement at 68.25 a dollar. Stronger Dollar index will continue to put pressure on the rupee for the day, as it is trading above the 101 mark. According to him, the trading range for the USD-INR is seen between 68-68.50 against the US dollar. 

 

The dollar resumed its uptrend helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year.

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