Thursday, 13 April 2017

Indian rupee opens at 64.44 per dollar; gains 24 paise

The Indian rupee opened higher by 24 paise at 64.44 per dollar on Thursday versus previous close 64.68. Mohan Shenoi of said, "Geopolitical risks concerning North Korea and Syria have resulted in risk-off sentiment with the dollar losing ground against the yen in particular. Custodial flow has supported rupee in the past few weeks."


"We expect the USD-INR pair to trade in a range of 64.40-64.70/dollar for the day," he added. The dollar slumped broadly - falling to a five-month low against the yen, after US President Donald Trump helped accelerate its recent decline by saying the currency was too strong and that he would prefer the Federal Reserve to keep interest rates low.

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