Forex Market News

Rupee Opens Lower At 66.56 Per Dollar

The Indian rupee opened marginally lower at 66.56 per dollar on Thursday versus 66.50 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, “Dollar has been strengthening this week against most currencies with rising expectations of a Fed rate hike in December.” “Rupee however has been resilient in a range.
USD-INR trading range for the day seen between 66.40-66.65/dollar,” he added. The dollar held steady against a basket of currencies as upbeat data on US services sector offset a weaker-than-expected report on private job growth, while the euro was broadly higher in step with a rise in higher euro zone bond yields.
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