Wednesday, 26 April 2017

Indian rupee breaches 64 mark; trades at highest level since Aug 2015

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Indian Rupee increased its initial gains and breached the 64 mark against the US Dollar. It was trading 63.99 a Dollar, the highest level since August 10, 2015. It has opened higher by 7 paise at 64.19 per Dollar today versus 64.26 Tuesday. The Rupee can breach the stiff resistance of 64.20/Dollar and may head higher. The spot USD-INR pair to trade in a range of 64-64.40/Dollar today.

The US Dollar surged against the Canadian loonie after the United States imposed duties on Canadian softwood, while the dollar hit a two-week high against the yen on greater risk appetite.

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