| Date: |
12-03-2015 |
| Subject: |
Indian rupee opens flat at 62.77 per dollar |
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The Indian rupee opened flat at 62.77 per dollar on Thursday against previous day's closing value of 62.78 a dollar.
The euro struggles just above a fresh 12-year low early as the European Central Bank kicked off its 1 trillion euro bond-buying campaign. Meanwhile, the dollar climbs further, fueled in part by expectations the Federal Reserve is not far from lifting interest rates.
Mohan Shenoi of Kotak Mahindra Bank said, "Strong US jobs data last week has increased expectations of an early Fed rate hike. Safe heaven dollar buying has resulted in a dollar rally and weak equities across the board."
"The USD-INR pair is expected to trade today in a range of 62.65-62.90/dollar," he added.
Source : moneycontrol.com
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