| Date: |
05-01-2016 |
| Subject: |
Rupee opens at 66.50 per dollar; gains 11 paise |
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The Indian rupee gained in the early trade on Tuesday. It has opened higher by 11 paise at 66.50 per dollar versus 66.61 Monday.
Arvind Narayanan of DBS Bank said, "I expect the rupee to remain weak in the short term on the back of continued weakness in Chinese fundamentals and hence weakening Yuan."
"I expect 66.30/dollar to be the floor in the near term and the rupee could test 66.90/dollar on the upside," he added.
The yen traded near a two-month high against the dollar. The dollar erased earlier losses against the euro after data showed German inflation unexpectedly slowed in December.
Source : moneycontrol.com
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