Today Rupee opens marginally lower at 67.23 per dollar At currency Market
The Indian rupee opened marginally lower at 67.23 per dollar on Tuesday against previous close of 67.20.
The dollar held steady against the major currencies, the dollar index is holding above the 96 mark.
The dollar held steady against the major currencies, the dollar index is holding above the 96 mark.
US DOLLAR INDEX (USD)
The American currency traded on a flat note yesterday and closed at 96.59 levels as lack of important economic datasets and events from the nation kept the trading volumes light. Moreover, in spite of the robust release of economic datasets from the nation like unemployment claims, producer price data, retail sales and ind ustrial production data from the nation, the American currency traded lower. This was mainly due to soaring of Japanese Yen against the American currency. A formal visit by former US Fed Chairman Ben Bernanke to the Bank of Japan governor yesterday has rai sed speculation that Japan might decide to provide fresh round of fiscal stimulus. This acted as a negative factor for DX. The American currency made an intraday low of 96.46 and closed at 96.59 on Monday.
OUTLOOK
Rupee is likely to appreciate in today’s trading session owing to weakness seen in the American currency that will keep the Indian Rupee supportive. Moreover, expectations of infusion of fresh stimulus in the markets by the central banks around the world have boosted the confidence in the market.
The American currency traded on a flat note yesterday and closed at 96.59 levels as lack of important economic datasets and events from the nation kept the trading volumes light. Moreover, in spite of the robust release of economic datasets from the nation like unemployment claims, producer price data, retail sales and ind ustrial production data from the nation, the American currency traded lower. This was mainly due to soaring of Japanese Yen against the American currency. A formal visit by former US Fed Chairman Ben Bernanke to the Bank of Japan governor yesterday has rai sed speculation that Japan might decide to provide fresh round of fiscal stimulus. This acted as a negative factor for DX. The American currency made an intraday low of 96.46 and closed at 96.59 on Monday.
OUTLOOK
Rupee is likely to appreciate in today’s trading session owing to weakness seen in the American currency that will keep the Indian Rupee supportive. Moreover, expectations of infusion of fresh stimulus in the markets by the central banks around the world have boosted the confidence in the market.
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