Monday, 28 November 2016

Rupee opens higher at 68.42 per dollar

The Indian rupee opened marginally higher at 68.42 per dollar on Monday versus 68.46 Friday. Positive cues from global as well as domestic equity market will help the rupee to trade with a positive bias. The trading range for the USD-INR pair will be 68.20-68.80/dollar. The dollar fell against major rivals on Friday as investors took advantage of a pullback in US bond yields and a holiday-shortened week to consolidate gains that have propelled the currency to a nearly 14-year peak. 

Expectations of rises in US inflation and interest rates have driven the greenback to a more than 6 percent gain in the past two months, its strongest showing over a similar period since early 2015.

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