Monday, 24 April 2017

Indian rupee opens higher at 64.55 per dollar

The Indian rupee opened marginally higher at 64.55 per dollar on Monday versus 64.61 Friday. 

Pramit Brahmbhatt of Veracity said, "The rupee is stuck in a tight range of 64.50-64.80/dollar and would trade in that range for the day. We expect the rupee to continue to depreciate on the back of negative cues from global equity market and constant FII outflow." 

The euro scaled five-month highs against the dollar after the centrist candidate swept to victory in the first round of the French presidential election, reducing the risk of an anti-establishment shock in the final round. The euro's gains dented the dollar index, it slumped 1 percent, though its losses were mitigated as the greenback gained against the perceived safe-haven yen. 

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