Rupee falls further, opens 16 paise lower at 66.57/$ : 09.09.2016
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The Indian rupee has opened at 66.57 per dollar, down 16 paise compared with previous day's closing value of 66.41 a dollar.
The Indian rupee fell in early trade Friday for the second consecutive session on recovery in US dollar. The currency has opened at 66.57 per dollar, down 16 paise compared with previous day's closing value of 66.41 a dollar.
Last Friday's disappointing US non-farm payroll data has pushed back expectation of a Fed rate hike. Emerging markets have reacted positively and spot USD-INR was thus able to break below Rs 66.80/USD.
USD-INR pair to consolidate around Rs 66.40/USD. Meanwhile, the US dollar rose against the yen, spurred by a jump in oil prices that put upward pressure on US. Inflation expectations and pushed traders to increase their outlook on a rate hike from the Federal Reserve.
The euro rose to a two-week high after the European Central Bank downplayed the need for more economic stimulus.
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The Indian rupee fell in early trade Friday for the second consecutive session on recovery in US dollar. The currency has opened at 66.57 per dollar, down 16 paise compared with previous day's closing value of 66.41 a dollar.
Last Friday's disappointing US non-farm payroll data has pushed back expectation of a Fed rate hike. Emerging markets have reacted positively and spot USD-INR was thus able to break below Rs 66.80/USD.
USD-INR pair to consolidate around Rs 66.40/USD. Meanwhile, the US dollar rose against the yen, spurred by a jump in oil prices that put upward pressure on US. Inflation expectations and pushed traders to increase their outlook on a rate hike from the Federal Reserve.
The euro rose to a two-week high after the European Central Bank downplayed the need for more economic stimulus.
