| Date: |
21-08-2015 |
| Subject: |
Rupee slips further; opens lower by 19 paise at 65.73/USD |
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The Indian rupee continued its downtrend on Friday, hitting a fresh two-year low. The currency has opened at 65.73 per dollar, down 19 paise compared to previous day's closing value of 65.54 per dollar.
Pramit Brahmbhatt of Veracity said, "The rupee is expected to depreciate as overnight US equities traded weak and closed in red. Negative sentiment in the market will also force local equity to open weak as Asian markets have already opened on a weak note. The range for rupee is seen between 65-66/dollar today."
The dollar fell against the major currencies as bets dwindle on the Federal Reserve raising US interest rates next month for the first time in nearly a decade.
Source : moneycontrol.com
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