Rupee opens higher at 65.26/dollar

On the global front, Fed elaborated that it is still monitoring global economic developments, however excluded the phrase of global risks taking a toll on US economy.

Indian Rupee today opened higher by 3 paise at 64.71/$ in early trade on Thursday. Yesterday, Indian rupee can scale lower in the short run, considering the prevalent volatility in the global currency markets.

On the global front, Fed elaborated that it is still monitoring global economic developments, however excluded the phrase of global risks taking a toll on US economy. Meanwhile, Fed stated that underutilization of labor resources has diminished and it continues to see the outlook for economic activity and the labor market nearly balanced, which reinforced the perception of a possible rate hike this year.

The rupee ended at 65.29, lower by 37 paise from its previous close of 64.92 on Wedsday. The currency touched a high and low of 65.56 and 65.62 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.15 and for Euro stood at 71.21 on October 29, 2015. While, the RBI’s reference rate for the Yen stood at 53.93, the reference rate for the Great Britain Pound (GBP) stood at 99.3626.