| Date: |
02-06-2016 |
| Subject: |
Rupee opens marginally higher at 67.42 per dollar |
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The Indian rupee opened marginally higher at 67.42 per dollar on Thursday versus 67.45 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, "Uncertainty over the second term to RBI governor resulted in weak rupee and bonds. However, the rupee weakness is expected to be capped today by exporter selling."
"We expect the USD-INR to trade in a range of 67.20-67.60/dollar today," he added.
The US dollar hit its lowest level in two weeks against the yen after Japan delayed a sales tax hike for longer than expected, raising concerns about the lack of Japanese monetary stimulus to halt the yen's rise.
Also the latest economic readings in US, weren't strong enough for the Fed to justify tightening monetary policy again, traders are now watching out for the May jobs data.
Source : moneycontrol.com
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