Rupee opens higher at 65.63/$

The currency touched a high and low of 65.61 and 65.88 respectively.

Indian Rupee today opened at 65.63 against the dollar, marginally higher in early trade on Tuesday. On the global are positive for now. Asian indices are well in the green. In the US market, the Dow gained 0.77%, S&P 500 added 0.46% while Nasdaq was marginally up. Democratic presidential candidate Hillary Clinton in a tweet stated that she would lay out a plan to prevent price gouging by specialty drug makers. The remarks triggered a selloff of biotechnology and health-care stocks. The currency touched a high and low of 65.68 and 65.76 respectively. The currency touched a high and low of 65.61 and 65.88 respectively.

Meanwhile, there is a strong perception that Reserve Bank of India will trim the interest rates by 25bps at the monetary policy review meeting on September 29th. Dovish US Fed policy statement and moderating Indian inflationary scenario will compel RBI to act on the interest rates.

On Monday, rupee ended at 65.73, weaker by 6 paise from its previous close of 65.67 on Friday. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.75 and for Euro stood at 74.37 on September 21, 2015. While, the RBI’s reference rate for the Yen stood at 54.83, the reference rate for the Great Britain Pound (GBP) stood at 102.1672.