| Date: |
01-12-2015 |
| Subject: |
Rupee opens at 66.53 per dollar; gains 14 paise |
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The Indian rupee gained in the early trade on Tuesday. It has opened higher by 14 paise at 66.53 per dollar versus 66.67 yesterday.
Ashutosh Raina of HDFC Bank said, "The Reserve Bank of India (RBI) is expected to maintain status quo in its policy meeting today, ahead of a potential mid-December Fed rate hike."
"The dollar index continues to surge, resulting in dollar gaining against most of developed and emerging markets (EM) currencies."
"We expect the USD-INR pair to remain under pressure moving into the FOMC meeting with expected mild intervention from RBI to stem volatility and the 66.20-67/dollar range is expected in near term," he added.
The dollar gained marginally against major currencies as expectations for further stimulus this week from the European Central Bank drove the euro to its lowest since April.
Source : moneycontrol.com
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