Dec 01, 2016 09:02 AM IST IST | Source: Moneycontrol.com

Rupee opens at 68.48 per dollar; slips 10 paise

US treasury yields go higher and dollar strength against global majors continues. We expect the USD-INR to trade in a range of 68.45-68.80/dollar for the day, says Mohan Shenoi of Kotak Mahindra Bank.

The Indian rupee slipped in the early trade on Thursday. It has opened lower by 10 paise at 68.48 per dollar versus previous close 68.38.

Mohan Shenoi of Kotak Mahindra Bank said, "Oil prices have risen on the back of OPEC decision to cut production. Strong US data makes December rate hike near certain."

"US treasury yields go higher and dollar strength against global majors continues. We expect the USD-INR to trade in a range of 68.45-68.80/dollar for the day," he added.

Also Read - RBI eases cash balance requirement for banks

The US dollar surged to a 9-month high against the yen and also gains against the euro and Swiss Franc after a surge in oil prices pushed US treasury yields higher.
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