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Indian rupee opens flat at 62.35 per dollar |
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The Indian rupee has opened flat at 62.35 per dollar on Thursday against previous day's closing value of 62.37 a dollar.
Mohan Shenoi of Kotak Mahindra Bank said, "Weaker than expected US Industrial Production data has toned down the expectation of a Fed rate hike in June resulting in reversal of the dollar rally. Dollar against major currencies is consolidating in a range due to mixed US data."
"Rupee has been in a tight range since April beginning and likely to remain so for some time. The USD-INR is expected to trade today in a range of 62.15-62.45/dollar," he added.
The US dollar traded lower across the board after Federal Reserve officials painted a mostly uninspiring picture in their latest economic assessment, calling growth overall "slight" or "moderate" across most of the country.
Source : moneycontrol.com
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