| Date: |
27-08-2015 |
| Subject: |
Rupee gains 20 paise; opens at 65.94 per dollar |
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The Indian rupee gained past 66 a dollar in early trade Thursday following rally in global equity markets. The currency appreciated by 20 paise to open at 65.94 per dollar against previous day's closing value of 66.14 a dollar.
Mohan Shenoi of Kotak Mahindra Bank said, "Due to volatility in global markets the likelihood of a Fed rate hike in the upcoming September meeting is fast receding. Following the PBoC action, Chinese equity sell-off has taken a breather. "
"The USD has once again gained lost ground. The USD-INR pair is expected to trade today in a range of 65.80-66.20/dollar," he added.
The yen fell as demand for the safe-haven currency drops after an abrupt turnaround in risk appetite saw Wall Street post its biggest one-day gain in four years. The dollar index rose above 95 mark.
Source : moneycontrol.com
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