Tuesday, 6 October 2015

Rupee opens marginally higher at 65.25 per dollar By MarketMagnify

The Indian rupee has opened with a marginal gain of 4 paise at 65.25 per dollar on Tuesday against previous day's closing value of 65.29 a dollar. Ashutosh Raina of HDFC Bank said, "The positive sentiment is back after the disappointing jobs data, with markets expecting that a 2015 Fed hike is off the table for now. This has resulted in EM currencies, equities and bonds rallying." He further added, "The USD-INR currency pair has rallied from recent lows, settling below crucial 65.50/dollar level which should act as a strong resistance in short term. Expect the pair to trade in the 65.00-65.50/dollar range with central bank support expected at lower levels."

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