Equity benchmarks started off the week on a strong note, with the Nifty hitting a record high on positive Asian cues and ahead of RBI policy meet. The Indian Rupee opened marginally higher at 64.80 per Dollar on Monday versus 64.85 Friday. Considering the US data, a technical bounce in the dollar from hereon cannot be ruled out. Thus rupee may depreciate for the day and the trading range for spot USD-INR pair is seen between 64.80-65.20/dollar."
The dollar fell slightly on Friday as a Federal Reserve official's seemingly dovish remarks and uninspiring data on the US economy doused the sanguine mood from earlier this week.
The euro rebounded from a two-week trough, and the dollar fell after New York Fed President William Dudley said the Central Bank was in no rush to tighten monetary policy.
Asian shares were mostly higher, the first trading day of the new quarter, as investors digested economic data out of Japan and Australia.
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Equity benchmarks started off the week on a strong note, with the Nifty hitting a record high on positive Asian cues and ahead of RBI policy meet. The Indian Rupee opened marginally higher at 64.80 per Dollar on Monday versus 64.85 Friday. Considering the US data, a technical bounce in the dollar from hereon cannot be ruled out. Thus rupee may depreciate for the day and the trading range for spot USD-INR pair is seen between 64.80-65.20/dollar."
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