The rupee fell against US Dollar on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.
The Indian rupee opened lower by 18 paise at 67.15/$ against US Dollar on Thursday as against the previous close of 66.97/$. The rupee breaches to 67-mark. The rupee fell against US Dollar on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.
On Wednesday, the Indian currency ended lower by 10 paise at 66.97/$. The local unit had hit a high of 67.23 and a low of 67.28. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.91 and for Euro stood at 75.48. The RBI’s reference rate for the Yen stood at 61.25; reference rate for the Great Britain Pound (GBP) stood at 96.6091.
On the global front, Minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out if the upcoming economic data is favourable.
“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2% objective, then it likely would be appropriate for the Committee to increase the target range for the federal-funds rate in June,” the minutes said.
On Wednesday, the Indian currency ended lower by 10 paise at 66.97/$. The local unit had hit a high of 67.23 and a low of 67.28. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.91 and for Euro stood at 75.48. The RBI’s reference rate for the Yen stood at 61.25; reference rate for the Great Britain Pound (GBP) stood at 96.6091.
On the global front, Minutes from the Federal Reserve's last policy meeting indicated that a rate hike in June cannot be ruled out if the upcoming economic data is favourable.
“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2% objective, then it likely would be appropriate for the Committee to increase the target range for the federal-funds rate in June,” the minutes said.
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