| Date: |
05-04-2016 |
| Subject: |
Rupee opens marginally lower at 66.25 per dollar |
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The Indian rupee retreated in early trade Tuesday. The currency has opened marginally lower at 66.25 a dollar compared to 66.20 a dollar in previous session.
Ashutosh Raina, HDFC Bank said the RBI is widely expected to cut rates by 0.25 percent in the monetary policy later today, adding communication from policy makers will be keenly watched by the market participants.
According to him, USD-INR pair is approaching the lower end of the Rs 66-67/USD band with decent portfolio flows coupled with strong intervention keeping it in a tight range.
Raina expects the Rs 66-67/USD range to continue till the policy announcement.
Source : moneycontrol.com
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