| Date: |
12-02-2016 |
| Subject: |
Rupee opens at 68.38 per dollar; down 9 paise |
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The Indian rupee opened lower by 9 paise at 68.38 per dollar on Friday against 68.29 Thursday.
Pramit Brahmbhatt of Veracity said, "Strong positive move in gold and carnage in global as well as domestic equity markets indicate that rupee will continue to depreciate."
"We expect the rupee to head towards 68.50/dollar levels. For the day, we will see rupee trading in a range of 68-68.50/dollar." he added.
The US dollar fell to a 15-month low against the yen, on track for its worst week against the Japanese currency since 2008, as fears of a global economic slowdown and concerns about stress in the banking system, increased demand for safe-havens.
Source : moneycontrol.com
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