Forex Market News

Rupee Rebounds 5 Paise To Gain Past 67 Per Dollar

The Indian rupee rebounded in early trade Tuesday, with gaining past its 67 level against the US dollar It has opened higher by 5 paise at 66.97 per dollar against previous close of 67.02. Bhaskar Panda of HDFC Bank says he expects the USD-INR pair to remain rangebound.
The pair is expected to trade in a range of 66.95-67.30/dollar today, according to him. The dollar rose to a near three-week high against a basket of currencies, lifted by hopes of US tax cuts as well as bets on whether the Federal Reserve may raise interest rates more quickly.
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