The Indian rupee has opened flat at 68.10 per dollar on Monday versus 68.12 Friday. Pramit Brahmbhatt of Veracity said, “In anticipation of a interest rate hike, dollar will continue to trade with positive bias, putting pressure on rupee.
Trading range for USD/INR seen at 68-68.50/dollar.” The dollar rose to its highest level since April 2003 against a basket of currencies on Friday and was on track for its largest two-week increase since March 2015, as traders piled bets on a massive dose of fiscal stimulus under a Donald Trump US presidency. Also stoking the dollar rally were growing expectations the Federal Reserve would raise interest rates next month on signs of rising inflation and improved economic growth.
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