Monday, 23 November 2015

MarketMagnify Updates: Rupee opens with marginal gains at 66.15 per dollar

The Indian rupee opened with a marginal gains of 3 paise at 66.15 per dollar on Monday versus 66.18 Friday. Agam Gupta of StanChart said, "The local government banks will probably buy dollar on dips towards 66.10 limiting the downside there. We expect exporters to sell dollar above 66.30 to hedge their forward receivables." "The USD-INR pair should range between 66.10-66.35/dollar today," he added. The euro fell against the dollar after two days of gains, pressured by comments from ECB chief Mario Draghi who expressed willingness to add more stimulus to the euro zone economy to raise inflation.

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