Friday, 25 November 2016

Rupee opens flat at 68.72 per dollar

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The Indian rupee opened flat at 68.72 per dollar on Friday versus previous close 68.73. High volatility and unidirectional move is the order of the day in the USD-INR market. A surging dollar index, spectre of US interest rate hike have seen net FII outflow to the tune of USD 4 billion leading to almost 4 percent depreciation of the rupee. Hence, expected USD-INR pair to consolidate between 68.60-69/dollar.

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