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    HomeNewsBusinessMarketsRupee at 4-month high, opens 29 paise higher at 66.53/$

    Rupee at 4-month high, opens 29 paise higher at 66.53/$

    The Indian rupee has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar.

    September 06, 2016 / 10:30 IST

    Moneycontrol Bureau

    The Indian rupee has started off trade at four-month high on Tuesday after fall in US dollar due to weaker-than-expected jobs data. The currency has opened at 66.53 a dollar, up 29 paise compared with Friday's closing value of 66.82 a dollar. The market opened after a long weekend as it was shut on Monday for Ganesh Chaturthi holiday.

    Ashutosh Raina of HDFC Bank says the probability of a US rate hike in September has diminished after the recent weaker-than-expected jobs report.

    The USD traded heavy against most of the currencies.

    According to him, the USD-INR pair is expected to trade in the 66.40-66.80 a dollar range, with Central Bank support expected to curtail further gains.

    first published: Sep 6, 2016 09:07 am

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