Today Rupee opens at 67.23 per Dollar ; up 9 paisa At Currency Market

The Indian rupee gained in the early trade on Monday. It has opened higher by 9 paisa at 67.23 per dollar versus 67.32 Friday.

"Trading range for the day will be 67-67.50/dollar," he said. Dollar fell against the euro on Friday due to reduced expectations of a US interest-rate hike this year.

US DOLLAR INDEX (USD) 

Last week’s trading session for the American currency was pretty volatile owing to mixed events. I t rose by 0.1 percent in the last week. Economic data releases such as the GDP, consumer and manufacturing data from the nation came on a good note. This calmed the jittery markets which shredded around $3 trillion in value post Britain’s vote out. Moreover, Bank of England governor, Mark Carney on 1st July’16 sent strong hints that the bank will likely cut interest rates by Aug’16 and even expand the quantitative easing  programme. However, sharp upside was restricted after Federal Reserve Bank of St. Lou is President James Bullard re - emphasized on a single rate hike for the foreseeable future. Bullard said he expects to see annual GDP and inflation growth of 2%, along with slight interest rate increases through 2018.

OUTLOOK

From the intra - day perspective, Rupee is likely to appreciate as positive trading in the Asian market equities will govern the trend of the Indian markets and its currency.

Read More - Currency Market

Share this