Rupee opens flat at 66.05/$

The currency touched a high and low of 66.34/$ and 66.43$ respectively.

Indian Rupee today opened at 66.05 against the dollar, lower by 2 on persistent of fresh buying of dollar by banks and exporters amid a smart rebound in local equity markets. On the global front, dollar rebounded for a second straight session on Wednesday as calm returned to financial markets with Wall Street stocks firmer and European shares recouping some losses, all of which diminished need to buy safe-haven currencies like the yen. Global indices are well in the green with Wall Street boosted by US economic data. Investors hope that will minimise some of the worries of a China-led global slowdown. Nifty futures rollover stood at three-month average range of 67%.

Japan’s Nikkei is up over 2% and most Asian markets are doing well including China. Crude oil futures traded in New York surged by more than 10% on Thursday in the wake of a report that Venezuela has asked the Organization of the Petroleum Exporting Countries (OPEC) to hold an emergency meeting.

The domestic currency had closed at 66.04 in the previous session. The currency touched a high and low of 66.34/$ and 66.43$ respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.06 and for Euro stood at 74.96 on August 27, 2015. While, the RBI’s reference rate for the Yen stood at 55.08, the reference rate for the Great Britain Pound (GBP) stood at 102.3475.