| Date: |
30-03-2016 |
| Subject: |
Rupee opens marginally higher at 66.48 per dollar |
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The Indian rupee opened marginally higher at 66.48 per dollar on Wednesday against previous close of 66.54.
NS Venkatesh of IDBI Bank said, "The rupee ended stronger versus the dollar yesterday. We saw custodial banks selling dollars and FIIs providing support to the rupee."
"Dollar demand from importers due to year end will be high. The dollar index is showing signs of weakness post Yellen's comments."
"We expect the rupee to trade in a range of 66.45-66.60/dollar today," he added.
The US dollar hit its lowest level against the euro in over a week and fell against other major currencies after Federal Reserve Chair Janet Yellen said it was appropriate for the Fed to proceed "cautiously" in hiking interest rates.
Source : moneycontrol.com
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