Indian rupee opens higher at 64.27 per dollar

The Indian rupee opened marginally higher at 64.27 per dollar on Thursday versus previous close 64.30. "As expected, US FOMC hiked the rate by 25 bps hinting one more rate hike in 2017. As the event was already priced-in, global currency market reaction was muted. Rupee has benefitted from global flows." "However, Reserve Bank of India (RBI) intervention is preventing sharp gains. USD-INR expected to trade in a range of 64-64.35/dollar today." The dollar nursed losses as weak US inflation data left investors wondering if the Federal Reserve would follow up its latest rate hike with another later this year. Deepening political turmoil in Washington also weighed on the greenback. Free Trials for two days in Financial Market click here to subscribe us >>


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