today Rupee at 4-month high, opens 29 paise higher at 66.53/$ in Currency Market
The Indian rupee has started off trade at four-month high on Tuesday after fall in US dollar due to weaker-than-expected jobs data. The currency has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar.
The market opened after a long weekend as it was shut on Monday for Ganesh Chaturthi holiday.
Ashutosh Raina of HDFC Bank says the probability of a US rate hike in September has diminished after the recent weaker-than-expected jobs report.
The USD traded heavy against most of the currencies. According to him, the USD-INR pair is expected to trade in the 66.40-66.80 a dollar range, with Central Bank support expected to curtail further gains.
The market opened after a long weekend as it was shut on Monday for Ganesh Chaturthi holiday.
Ashutosh Raina of HDFC Bank says the probability of a US rate hike in September has diminished after the recent weaker-than-expected jobs report.
The USD traded heavy against most of the currencies. According to him, the USD-INR pair is expected to trade in the 66.40-66.80 a dollar range, with Central Bank support expected to curtail further gains.
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