Indian rupee continued its downtrend for the sixth consecutive session on Wednesday as it is heading towards 64 per dollar.
The currency fell 19 paise in early trade to 63.90 per dollar as against previous day's closing of 63.71 per dollar. According to Himanshu Arora of Religare, dollar is expected to trade higher in the next session due to weak cues from CPI and IIP.
"Continued strength in the dollar index, as seen in the past few trading sessions may also underpin dollar against the rupee in domestic market," he adds. He says the range for the day is seen between 63.50-64.15/USD.
The dollar holds firm staying near a two-month high against the yen as investors bet that the US Federal Reserve is on course to start reducing its stimulus as early as December.
Source:- moneycontrol.com
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