| Date: |
19-11-2015 |
| Subject: |
Rupee gains 19 paise, opens at 66.10 per dollar |
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The Indian rupee has opened higher in early trade on Thursday. It has gained 19 paise at 66.10 per dollar versus 66.29 Wednesday.
Mohan Shenoi, Kotak Mahindra Bank says minutes of the October FOMC meeting clearly indicate that Fed will commence the rate hiking cycle in December.
Since the minutes were in-line with market expectations further dollar strength against major currencies was limited, he adds.
According to him, the USD-INR is expected to trade today in a range of Rs 66.10-66.35/USD.
"The USD-INR is expected to trade today in a range of 66.10-66.35/dollar," he added.
The dollar hit a seven-month peak against a currency basket after minutes of the last Fed policy meeting suggested that a December rate increase was on the cards.
Source : moneycontrol.com
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