| Date: |
26-05-2015 |
| Subject: |
Indian rupee opens marginally lower at 63.60/$ |
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The Indian rupee has started Tuesday's trade with marginal loss. The currency has opened at 63.60 a dollar, down 4 paise compared to 63.56 a dollar in previous session.
Ashutosh Raina, HDFC Bank said the dollar index has again started moving higher after recent comments from Fed officials about likely beginning of the rate hike cycle later this year. The market will be keenly watching the US data for further clues, he added.
According to him, the rupee continues to trade in the 63.50-64.00/USD range with intervention capping any further gains. He expects the pair to trade in 63.30-63.80/USD range today.
Meanwhile, the dollar hit a one-month high against a basket of major currencies on Monday in the wake of Friday's comments from Federal Reserve Chair Janet Yellen, who rekindled market expectations that the central bank was gearing up to hike interest rates.
Source : moneycontrol.com
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