Friday, 3 February 2017

Rupee opens marginally higher at 67.35 per dollar

The Indian rupee opened marginally higher at 67.35 per dollar versus 67.37 Thursday. The USD-INR pair continues to gain on the back of global dollar weakness with the dollar index settling around 99.50 levels, sharply lower from its recent highs. The market will be keenly awaiting US jobs data due later today. We expects the USD-INR pair to trade in the range of 67.20-67.50/dollar today. 

The US dollar rebounded from its weakest level since mid-November on views that the greenback's longer-term upward trend remained intact, while the rouble surged after the US treasury adjusted sanctions on a Russian spy agency.

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