Rupee opens marginally higher at 66.80 per dollar

The Indian rupee opened marginally higher at 66.80 per dollar on Wednesday versus 66.82 Tuesday. NS Venkatesh of Lakshmi Vilas Bank said, "The rupee fell against the dollar in afternoon trade and closed at 66.89/dollar. Month-end demand for Dollar will weigh in on the rupee but exporters' dollar sales are likely to support the same." 

 

"The rupee will take cues from equity markets and trade between 66.65-67.10/dollar," he added. The dollar hit its highest level in nearly eight months against the euro and a roughly three-month high against the yen on growing expectations that the Federal Reserve would raise interest rates in December, while the offshore yuan hit a record low. Traders now see 78 percent chance that the Fed would raise rates in December.

 

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