| Date: |
01-06-2016 |
| Subject: |
Rupee opens at 67.24 per dollar |
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The Indian rupee opened flat at 67.24 per dollar against previous close of 67.26.
Bansi Madhvani of India Ratings said, "Pulling back from recent low of 67.75/dollar, the rupee has staged a sharp recovery driven by correction in dollar strength and strong domestic equity market performance."
"Prospects of Fed rate hike will keep global markets on tenterhooks, but is unlikely to be majorly disruptive for the rupee."
"Rupee is likely to hold in the range of 67.05-67.75/dollar this week, with focus on US employment data," he added.
The US dollar was mostly flat against a basket of major currencies after US economic data failed to support expectations for a June or July Federal Reserve interest rate hike.
Source : moneycontrol.com
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