The Indian rupee opened lower by 10 paise at 63.77 per dollar versus 63.67 Tuesday. The dollar continues to gain on unexpectedly better US April housing data. Euro sells off spurred by hints the European Central Bank could take more action to lower euro zone bond yields and boost inflation.
Himanshu Arora of Religare said, “The rupee is expected to trade higher today amid persistent strength in dollar index on worries that Greece may miss debt repayments next month.”
“Also ECB said it may buy bonds more than its monthly target of (E) 60 billion. This is expected to add to dollar's strength against euro.”
“Fresh statements from FOMC, related to interest rate hike in the US may provide more cues for the rupee going forward. Range for the day is seen between 63.40-64.05/dollar,” he said.
Source:moneycontrol.com
No comments:
Post a Comment