Rupee opens marginally higher at 68.28 per dollar

The USD-INR is now expected to consolidate within the 68.20-68.50/dollar range, says Bhaskar Panda of HDFC Bank.
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Dec 02, 2016, 09.02 AM | Source: Moneycontrol.com

Rupee opens marginally higher at 68.28 per dollar

The USD-INR is now expected to consolidate within the 68.20-68.50/dollar range, says Bhaskar Panda of HDFC Bank.

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Rupee opens marginally higher at 68.28 per dollar

The USD-INR is now expected to consolidate within the 68.20-68.50/dollar range, says Bhaskar Panda of HDFC Bank.

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The Indian rupee opened marginally higher at 68.28 per dollar on Friday versus previous close 68.34.

Bhaskar Panda of HDFC Bank said, "Uncertainty due to demonetisation and issues related to FCNR outflow is almost over. The effect of CRR increase is also discounted."

"Indian foreign exchange market is now more or less stabilised after USD-INR pair touched a lifetime high of 68.86/dollar earlier. The pair is now expected to consolidate within the 68.20-68.50/dollar range," he added

Also Read -  Rupee's slide from outflows, demonetization likely near end:Poll

The dollar lost some ground against a basket of currencies as traders booked gains following a solid November and on caution ahead of today's government payrolls report.
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Rupee opens marginally higher at 68.28 per dollar

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