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Indian Rupee Opens at 64.30 per Dollar << EXCLUSIVE >> By Ripples Financial Advisory
The Indian rupee opened marginally lower at 64.30 per dollar on Monday versus previous close 64.28. Next technical hurdle for rupee is 64.20/Dollar. The trading range for the spot USD-INR pair will be 64.20-64 70/dollar." The Dollar started the week at three-week highs against a currency basket after a key US Federal Reserve official reinforced the Central Bank's commitment to interest rate hikes. New York Fed President William Dudley said the Fed might avoid raising interest rates at the same time that it begins shrinking its 4.5 trillion dollar bond portfolio, prompting only a "little pause" in the Central Bank's rate hike plans.