| Date: |
07-01-2016 |
| Subject: |
Rupee opens marginally lower at 66.86 per dollar |
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The Indian rupee opened marginally lower at 66.86 per dollar on Thursday against previous close of 66.82.
Mohan Shenoi of Kotak Mahindra Bank said, "2016 has started with risk-off sentiment in the backdrop of poor Chinese data and geopolitical developments."
"Odds of another Fed rate hike in March are high. The market is expecting a total of 3 Fed rate hikes in 2016. The USD-INR is expected to trade in a range of 66.65-66.95/dollar today," he added.
The dollar weakened against a basket of currencies as FOMC minutes supported bets that further US rate hikes would be gradual on concerns about persistent low inflation.
Source : moneycontrol.com
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