Dec 30, 2015 09:02 AM IST | Source: Moneycontrol.com

Rupee opens lower at 66.45 per dollar

The USD-INR is expected to trade today in a narrow range of 66.35-66.48/dollar, says NS Venkatesh of IDBI Bank.

Rupee opens lower at 66.45 per dollar
The Indian rupee opened lower by 5 paise at 66.45 per dollar versus 66.40 Tuesday.

NS Venkatesh of IDBI Bank said, "The rupee closed weak yesterday. US economic data showed some improvement in consumer confidence which has led to marginal strength for the US dollar."

"With the dollar index at 98.25, the month-end dollar demand from oil companies is expected to put some pressure on the rupee," he added.

"The USD-INR is expected to trade today in a narrow range of 66.35-66.48/dollar," he said.

The US dollar gained against the euro after greater risk appetite hurt demand and new pressure from short sellers likely weighed on the euro. The US dollar held its advance after stronger economic data saw treasury yields rise.

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