Rupee opens weaker on incremental dollar demand

The currency touched a high and low of 65.48 and 65.53 respectively.

Indian Rupee today opened lower by 23 paise at 65.15/$ in early trade on Thursday.The dollar is standing strong against most other currencies. The currency touched a high and low of 65.02 and 65.08 respectively. On the global front, the Fed has kept interest rates unchanged. In the December meeting the Fed would “assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation.” The SGX Nifty is trading in the red and Asian shares moved lower. The F&O expiry will add the usual choppiness towards the end. Japan's industrial output rose 1.0 per cent in September from the previous month, which was better than expectations.

The rupee ended at 64.92, higher by 5 paise from its previous close of 64.96 on Tuesday. The currency touched a high and low of 65.48 and 65.53 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.04 and for Euro stood at 71.75 on October 28, 2015. While, the RBI’s reference rate for the Yen stood at 54.01, the reference rate for the Great Britain Pound (GBP) stood at 99.5840.