Feb 16, 2017 09:01 AM IST | Source: Moneycontrol.com

Rupee opens lower at 66.94 per dollar

The USD -INR is expected to trade in the range of 66.70-67 for the day, says Mohan Shenoi of Kotak Mahindra Bank.

Rupee opens lower at 66.94 per dollar
The Indian rupee opened lower by 4 paise at 66.94 per dollar on Thursday versus previous close 66.90.

Mohan Shenoi of Kotak Mahindra Bank said, "Dollar rally looks to have lost steam despite Fed chair Yellen's hawkish testimony and uncertainty regarding Trump's economic & foreign policy."

"Rupee has been resilient on the back of change in monetary policy stance of RBI. The USD -INR is expected to trade in the range of 66.70-67 for the day," he added.

The dollar retreated from 1-month high as investors took profits after US data showed robust growth in retail sales and consumer prices in January.

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