Tuesday, 20 October 2015

MarketMagnify Update: Rupee opens lower, falls 15 paise to 64.95/dollar

The Indian rupee has opened lower on Tuesday, falling 15 paise to 64.95 a dollar compared to 64.80 per dollar in previous session. 

Ashutosh Raina, HDFC Bank says decline in commodity and energy prices after yesterday's China GDP data has dampened sentiment a bit amidst global growth concerns. According to him, USD/INR currency pair after failing to break Rs 64.70/USD support on the back of strong central bank intervention is expected to break the Rs 65/USD figure and move towards Rs 65.50/USD level, helped by risk-off sentiment.

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