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Last Updated : Dec 01, 2015 09:05 AM IST | Source: Moneycontrol.com

Rupee opens at 66.53 per dollar; gains 14 paise

We expect the USD-INR pair to remain under pressure moving into the FOMC meeting with expected mild intervention from RBI to stem volatility and the 66.20-67/dollar range is expected in near term, says Ashutosh Raina of HDFC Bank.

The Indian rupee gained in the early trade on Tuesday. It has opened higher by 14 paise at 66.53 per dollar versus 66.67 yesterday.

Ashutosh Raina of HDFC Bank said, "The Reserve Bank of India (RBI) is expected to maintain status quo in its policy meeting today, ahead of a potential mid-December Fed rate hike."

"The dollar index continues to surge, resulting in dollar gaining against most of developed and emerging markets (EM) currencies."

"We expect the USD-INR pair to remain under pressure moving into the FOMC meeting with expected mild intervention from RBI to stem volatility and the 66.20-67/dollar range is expected in near term," he added.

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First Published on Dec 1, 2015 09:05 am
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