Moneycontrol
Nov 10, 2015 09:04 AM IST | Source: Moneycontrol.com

Rupee opens flat at 66.43 per dollar

The USD-INR pair is fast approaching near-term lows on the back of expectations of lift-off in US coupled with recent domestic changing political scenario, says Ashutosh Raina of HDFC Bank.

Rupee opens flat at 66.43 per dollar
The Indian rupee has opened flat at 66.43 per dollar on Tuesday against previous day's closing value of 66.44 a dollar.

Ashutosh Raina of HDFC Bank said, "The solid US October Jobs data and firm earnings growth has resulted in markets expecting a December lift-off. This has resulted in dollar gaining across the board against most of its peers."

He further added, "The USD-INR pair is fast approaching near-term lows on the back of expectations of lift-off in US coupled with recent domestic changing political scenario. We expect the pair to trade between 66.20-66.80/dollar in the short term."

Dollar hovered just below a seven-month peak against a basket of major currencies , having consolidated its payrolls-inspired rally in a subdued session overnight.
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