Indian Rupee Opens Higher At 64.27 Per Dollar - Dollar Advisory Financial Services

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Thursday 15 June 2017

Indian Rupee Opens Higher At 64.27 Per Dollar

US dollar ends cheaper against rupee
The Indian rupee opened marginally higher at 64.27 per dollar on Thursday versus previous close 64.30.

Mohan Shenoi of Kotak Mahindra Bank said, "As expected, US FOMC hiked the rate by 25 bps hinting one more rate hike in 2017. As the event was already priced-in, global currency market reaction was muted. Rupee has benefitted from global flows."

"However, Reserve Bank of India intervention is preventing sharp gains. USD-INR expected to trade in a range of 64-64.35/dollar today."

"Lower than expected India CPI and WPI have triggered market expectations of monetary easing making local bond market bullish.

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