The Indian rupee opened lower by 17 paise at 66.63 per dollar on Wednesday against previous close 66.46. Pramit Brahmbhatt of Veracity said, “Concerns from the US with respect to rate hike expectations helped the dollar trade higher compared to peers. The rupee is expected to trade lower within a range of 66.50-67/dollar.
The greenback strengthened on upbeat economic data and bets on a year-end US interest rate increase. While the British pound took a beating, falling to its lowest level against the buck since 1985 on Brexit concerns.
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