Rupee opens at lowest level in 2015, down 24 paise

Mumbai, India (BBN)-Indian rupee has opened at its lowest level in 2015, down 24 paise to 63.78 a dollar on Thursday against previous day’s closing value of 63.54 per dollar.

“Mixed data emanating from US continues to exert pressure on Dollar. However, weak Indian stock market is weakening the rupee which is partly neutralised by RBI actions,” said Mohan Shenoi, Kotak Mahindra Bank, reports Money Control .

He expects the USD-INR pair to trade today in a range of Rs 63.40-63.70/USD.

According to him, fII selling in debt segment and rising Brent crude prices are likely to keep Indian bonds bearish. He expects the 10-year benchmark yield to trade today in a range of 7.88-7.91 percent.

No Subscription? You Are Missing Out!

Join the business leaders of Bangladesh who rely on BBN's original reporting and in-depth analysis on business scenario of the country. We send only one daily email. No Spam Guaranteed!

Your Name (optional)

Your Email (Required) *

Subscribe

Please check your email and confirm your subscription