Forex Market News

Rupee Opens Higher At 65.76 Per Dollar

The Indian rupee opened marginally higher at 65.76 per dollar on Wednesday versus 65.82 Tuesday. Yesterday the rupee closed at 16-month high at 65.82, which was last seen in November, 2015. Pramit Brahmbhatt of Veracity said, “The rupee has strong resistance at 65.80 levels and may trade sideways for the day. We expect the USD-INR pair to trade in a range of 65.80-66.30/dollar today.
The dollar was on tenterhooks in early trade as investors waited anxiously to see what clues the US Federal Reserve would soon reveal on its monetary policy outlook. Meanwhile, sterling nursed its losses after tumbling to an eight-week low in the previous session, amid worries about a prolonged and painful process of the UK’s exit from the European Union.
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