| Date: |
14-12-2015 |
| Subject: |
Rupee opens at fresh 2-year low at 67.09 per dollar |
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The Indian rupee opened at a fresh two-year low at 67.09 per dollar. It is trading lower by 21 paise against Friday's close of 66.88.
Agam Gupta of StanChart Bank said, "The local government banks should be sellers of the dollar on upticks towards 67.20-67.30/dollar today. Any dips towards 66.75/dollar should lead to importers buying dollar to hedge their future dollar payables."
"The day should see a range of 66.80-67.30/dollar," he added.
The dollar remains largely unchanged against major currencies ahead of the all important Fed meet this week.
Meanwhile, the market is also keeping an eye on the Chinese currency after Beijing surprised some by shifting the way it values the yuan, or renminbi, toward a trade-weighted basis from the US dollar. The yuan closed at its lowest level in over four years on Friday.
Source : moneycontrol.com
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