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The rupee is likely to weaken against the US dollar today because of corporate dollar demand and due to the greenback's gains against the euro and yen.
The rupee closed lower at Rs 46 reflecting the fall in the yen versus the dollar.
market. USD is still stronger against euro and yen. And if the global dollar demand keeps going up, then that will put pressure on the rupee.
Sanjeev Bajaj of Bank of America believes that the fall in the rupee is on account of dollar and euro strengh versus yen. He also adds that pressure from corporate and inter-bank market also hit
currency market, say analysts.The Japanese Yen is currently at 115.57 against the dollar. It has depreciated by 1.4%. The Nikkei fell by 0.67%. The same story was repeated in Hong-Kong. The Hong
After a week of huge volatility, the rupee is trading in a narrow range today. Analysts believe that the rupee was helped today by some amount of easing in the dollar globally.
The rupee today crossed the Rs 45 per dollar mark today, touching Rs 45.20 per dollar levels. Analysts believe that the forex market reflected the dip in the stock market, which led to the rupee
The rupee dropped for the second straight day today and pierced the 45 per dollar level on the back of a stronger dollar overseas. Analysts point out reasons that led to the fall in the rupee today.
The China Central Bank has announced that the Yuan would no longer be pegged to the dollar. The new exchange rate would be 8.11 Yuan to the dollar. The Yen and the Rupee have appreciated at the news.
Rupee opened weaker against the US dollar after the latter remained stronger against the euro and yen, despite a larger-than-expected decline in US weekly jobless claims.