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Wednesday, 24 May 2017

Indian rupee opens weaker against USD at 64.91

The Indian rupee on Wednesday opened at 64.91 to the dollar, 2 paise weaker than its previous close of 64.89. "Pessimism which persists in the domestic equity market will be the reason for rupee to depreciate. The spot USD-INR pair will trade in a range of 64.80-65.20/dollar today." The dollar held firm, rebounding from 6-1/2-month lows against its major peers thanks to a rise in US treasury yields, with investor focus now turning towards the Federal Reserve's monetary policy stance.

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