Today Rupee opens at 66.85 per dollar; gains 14 paise at the market

The Indian rupee opened higher by 14 paise at 66.85 per dollar on Thursday versus 66.99 Wednesday.

The dollar gained, recovered from six-week lows, as investors squared positions ahead of Friday's US non-farm payrolls report.

US DOLLAR INDEX (USD) 

The Ame rican currency rose by 0.6 percent in yesterday’s trading session owing to the robust release of ADP employment data that came far better than the expected levels in July’16 . Amid uncertain global conditions, there has been a decent demand for workers whic h clearly indicates that the labour markets have finally found some stability. Moreover, Japan's stimulus measures did not meet expectations when its Cabinet on Tuesday adopted a US$273 billion stimulus package to help revive growth in that country's listl ess economy. The measures included infrastructure spending and efforts to raise the birthrate. Investors fear the measures are not strong enough to stave off deflation due to which there was a slight demand seen in the safe - haven greenback.

OUTLOOK 

Rupee is likely to trade positive as Rajya Sabha has finally passed the GST bill which will lead to FII inflow thereby boosting the demand for rupee. 

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