Forex Market News

Rupee Opens Lower At 66.78 Per Dollar

The Indian rupee opened marginally lower at 66.78 per dollar on Wednesday versus previous close 66.71. Bansi Madhvani of India Ratings said, “A clear indication by the Fed over its imminent rate hike could rein in any major appreciating bias of the rupee against USD, in the near term. “The rupee could trade at 66.55-67.25 band.
The US dollar hit its lowest level in more than two weeks against the euro on US political uncertainty, while the Mexican Peso hit a more than three-week low on positioning for a potential victory for republican presidential candidate Donald Trump.
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