| Date: |
30-07-2015 |
| Subject: |
Rupee opens lower at 63.96 per dollar |
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The Indian rupee opened lower by 5 paise at 63.96 per dollar on Thursday against 63.91 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, "As per July FOMC statement, Fed is poised to begin rate hikes in 2015 most likely in September. Dollar strength against major currencies is continuing."
"With Reserve Bank Of India (RBI) presence on both sides of the market, USD-INR is expected to trade today in a range of 63.85-64.15/dollar," he added.
The dollar remained steady in cautious trade ahead of US GDP data that could reinforce expectations that the Federal Reserve is on track to raise interest rates as early as September.
The first estimate of second-quarter US GDP will be published later today. The economy is seen returning to growth, expanding by 2.7 percent, after a contraction in a weather-battered first quarter.
Source : moneycontrol.com
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