Thursday, 24 November 2016

Rupee opens at fresh 9-month low; down 18 paise

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The Indian rupee opened at fresh 9-month low at 68.74 per dollar on Thursday. It has slipped 18 paise versus previous close 68.56. The rupee is near to its record closing low of 68.85 per dollar, which it has tested on August 28, 2013. Dollar rally across the board is continuing. December US Fed rate hike is now certain. While Rupee has weakened sharply against Dollar, it has in fact strengthened against currencies like euro and yen. Expected, the USD-INR to trade in a range of 68.65-69/dollar for the day.

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