Forex Market News

Indian Rupee Opens At 63.99 Per Dollar, At Highest Level Since April 27

The Indian rupee opened higher by 9 paise at 63.99 per dollar on Wednesday, at highest level since April 27, 2017. It has closed at 64.08 on Tuesday.
Pramit Brahmbhatt of Veracity said, “We expect the rupee to consolidate in narrow range of 64-64.20/dollar for the day. Negative US economic data may help the rupee to appreciate. Further upside can be expected below 64/dollar.”
The dollar index slipped to the weakest in over six months after two US officials said president Donald Trump disclosed highly classified information to Russia’s foreign minister about a planned Islamic state operation.Concerns that political turmoil would diminish the prospect for pro-growth fiscal policies pushed the euro more than 1 percent higher versus the greenback.
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