| Date: |
30-10-2014 |
| Subject: |
Indian rupee opens at 61.51 per dollar; slips 16 paise |
|
The Indian rupee slipped in the early trade on Thursday. It has opened lower by 16 paise at 61.51 per dollar against previous day close of 61.35.
The dollar index rises after the Federal Reserve ended its monthly bond purchase program and signaled confidence the US economic recovery would remain on track despite signs of a slowdown in many parts of the global economy.
Mohan Shenoi of Kotak Mahindra Bank said, "As expected QE3 and Fed's bond buying program was ended in the FOMC meet yesterday. Chances of a rate hike in US in June 2015 has increased which led to a dollar rally against major currencies."
He further added, "The dollar is expected to strengthen against the rupee as well. The range for USD-INR is seen between Rs 61.30-61.70/dollar."
Source : moneycontrol.com
|