Moneycontrol
Jan 28, 2016 09:02 AM IST | Source: Moneycontrol.com

Rupee opens at 68.15 per dollar; slips 10 paise

We expect the USD-INR to trade in a range of 68.05-68.40/dollar today, says Mohan Shenoi of Kotak Mahindra Bank.

The Indian rupee opened lower by 10 paise at 68.15 per dollar on Thursday against previous close of 68.05.

Mohan Shenoi of Kotak Mahindra Bank said, "As expected, the FOMC has kept policy rates unchanged. Due to adverse global financial developments, odds of a hike in March have also fallen. Number of hikes anticipated this year has fallen to 2-3 from 3-4 earlier."

He further added, "The rupee is impacted more by global developments than any local factors."

"We expect the USD-INR to trade in a range of 68.05-68.40/dollar today," he said.

Also Read - Rajan to wait for Budget roadmap before next rate cut: HSBC

The dollar weakened against the euro and the yen after the Federal Reserve left interest rates unchanged.
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