| Date: |
09-02-2016 |
| Subject: |
Rupee down 20 paise; opens at 68.14 per dollar |
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The Indian rupee opened lower by 20 paise at 68.14 per dollar on Tuesday versus previous closing of 67.94.
Ashutosh Raina of HDFC Bank said, "Global risk sell-off resulted in stocks getting dumped for safe haven bonds, yen and gold. Markets will be keenly awaiting the Yellen testimony scheduled later this week."
"The USD-INR pair should continue to trade in a 67.50-68.50/dollar range, with some depreciating bias amid this risk-off environment. Support is expected at lower levels," he added.
The dollar fell to a 15-month low against the yen as a renewed slide in oil prices and doubts about the effectiveness of the Bank of Japan's negative interest-rate policy drove investors back into the safe-haven currency.
Source : moneycontrol.com
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