The Indian rupee opened higher by 7 paise at 67.12 per dollar
The Indian rupee opened higher by 7 paise at 67.12 per dollar on Tuesday against previous close 67.19.
The dollar halts its advance against major currencies on hesitation ahead of a speech from the Fed chair on Friday.
US DOLLAR INDEX (USD)
The dollar halts its advance against major currencies on hesitation ahead of a speech from the Fed chair on Friday.
US DOLLAR INDEX (USD)
The American currency traded on a flat note percent yesterday as lack of important economic datasets from the nation kep t the trading volumes a bit light. Investors now shift their attention towards the Jackson Hole meeting where the US Fed chairw oman will give a statement. Markets await more clarity on when the policymakers might raise interest rates. Moreover, markets are discounting the FOMC meeting minutes where the members of the committee were divided over when the next rate rise should come. As per federal funds future rates, only 12 percent traders saw a chance of rate hike in Sep'16 from 24 percent. The American currency made a n intraday low of 94.43 and closed at 94.50 on Monday.
OUTLOOK
Rupee is likely to trade negative as markets believe that the newly elected RBI governor Urjit Patel being an inflation hawk will not rush in cutting interest rates soon unless and until he is fully satisfied t \\ with the inflation rate.
OUTLOOK
Rupee is likely to trade negative as markets believe that the newly elected RBI governor Urjit Patel being an inflation hawk will not rush in cutting interest rates soon unless and until he is fully satisfied t \\ with the inflation rate.
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