Forex Market News

Rupee Opens Higher At 67.84 Per Dollar

The Indian rupee opened marginally higher at 67.84 per dollar on Wednesday versus previous close 67.90. NS Venkatesh of Lakshmi Vilas Bank said, “The rupee gained considerably against the USD yesterday on account of dollar selling by exporters and custodial banks.
A deeper than expected rate cut may take the rupee lower today.” “In case the RBI policy meets street expectations, the rupee will trade in a range of 67.75-68.15/dollar,” he added. The euro held slightly below three week highs against the US dollar as investors waited on tomorrow’s highly anticipated European Central Bank meeting. The dollar index rises after dropping to its lowest levels since November 15.
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