Forex Market News

Rupee Opens Marginally Lower At 66.49 Per Dollar

The Indian rupee opened marginally lower at 66.49 per dollar on Thursday versus previous close 66.43. Mohan Shenoi of Kotak Mahindra Bank said, “Trump presidency has triggered volatility in global equity, bond and currency markets.
Dollar after initial sell-off rebounded well against major currencies. Market has swung from risk-off to risk-on sentiment. Rupee is expected to gain marginally today on the back of positive equity markets. The USD-INR pair is expected to trade in a range of 66.35-66.65/dollar for the day.
The US dollar rose broadly against its major rivals post trump’s victory. The Mexican Peso plunged to record lows on Wednesday, losing 7.8 percent to trade at 19.79 to the dollar.
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