| Date: |
02-02-2016 |
| Subject: |
Rupee opens flat at 67.85 per dollar |
|
The Indian rupee opened flat at 67.85 per dollar on Tuesday against previous close of 67.84.
Ashutosh Raina of HDFC Bank said, "Reserve Bank of India (RBI) is expected to maintain status quo in the first monetary policy decision of 2016 today. However, some measures to ease the tight liquidity conditions can be expected."
"USD-INR pair has come off from recent lows, and is expected to trade in a broad range of 67.50-68.50/dollar in the near term," he added.
The dollar extended its rebound against the yen to a fifth straight day after Wall Street reversed nearly all its earlier losses allowing USD/JPY to hold onto 121 and close with a slim gain.
The dollar was lower against all the other G-10 currencies, however, as disappointing US economic data coupled with comments from Fed Vice Chairman Stanley Fischer indicated interest rates will remain unchanged through the March FOMC meeting.
Source : moneycontrol.com
|