| Date: |
31-08-2015 |
| Subject: |
Rupee slips; opens lower by 11 paise at 66.25 per dollar |
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The Indian rupee fell in early trade on Monday. It has opened lower by 11 paise at 66.25 per dollar against Friday's close of 66.14 a dollar.
Agam Gupta of StandChart Bank said, "We expect the market to keep a close watch on global equities and risk sentiment, especially in light of an increase in the probability of a September rate hike by the US FOMC."
"Dips below 66/dollar will continue to attract demand from importers and any spike to the 66.30-66.40/dollar zone should lead to hedging by exporters. We expect a 65.95-66.35/dollar range for the day," he added.
The dollar traded near one-week highs on rate-hike remarks by a senior Fed official and generally positive US data .
Source : moneycontrol.com
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