Thursday, 2 February 2017

Rupee opens at 67.44 per dollar; up 4 paise

The Indian rupee gained in the early trade on Thursday. It has opened higher by 4 paise at 67.44 per dollar. On Wednesday the rupee ended at 67.48 per dollar, up 39 paise against Tuesday's close 67.86. It was a biggest single session gain reported by the rupee since May 25, 2016. Also, the rupee ended at the highest level against dollar since December 14. Mohan Shenoi of Kotak Mahindra Bank said, "As expected, US Fed has maintained status quo. 

Odds of dollar weakness is increasing despite strong data from US on account of statements from the Trump administration." "The union budget is positive for Indian equities and INR. The USD-INR pair is expected to trade in a range of 67.30-67.60/dollar for the day," he added. The dollar index slipped against a basket of major currencies as the Fed opts to leave rates unchanged.

FREE TRIAL =FINANCIAL TRADING+INTRADAY CALLS+STOCK NEWS and many more just in a simple click here

No comments:

Post a Comment