| Date: |
22-07-2016 |
| Subject: |
Rupee opens lower at 67.18 against US dollar |
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The Indian rupee opened higher by four paise at 67.18/$ against US Dollar Friday as against the previous close of 67.17/$.
On the economy front, Reserve Bank of India on Thursday said government securities up to 9% of their deposits under the Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR) will be reckoned as High Quality Liquid Assets (HQLA) as against 8 per cent hitherto.
The European Central Bank left interest rates unchanged as expected on Thursday, holding them at record lows as it seeks to revive growth and inflation with cheap credit to the economy.
Euro weakened marginally, as ECB indicated a possibility of extended monetary stimulus. However, Yen reclaimed lost ground against US dollar, as BOJ chief stated that there is no need for helicopter money to boost the economy.
The Indian currency ended higher by three paise at 67.17/$. The local unit had hit a high of 67.19 and a low of 67.22. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.20 and for Euro stood at 74.15. The RBI’s reference rate for the Yen stood at 62.73; reference rate for the Great Britain Pound (GBP) stood at 88.97.
Source : indiainfoline.com
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