Rupee opens lower at 66.85 per dollar : 09.02 Am

Rupee opens lower at 66.85 per dollar : 09.02 Am

We expect the USD-INR pair to trade in a range of 66.70-66.95/dollar for the day,

The Indian rupee opened lower by 9 paise at 66.85 per dollar on Thursday versus 66.76 Tuesday. The currency market closed on Wednesday on account of Parsi New Year

Despite strong payroll data, currency markets still believe that there will be no Fed rate hike in CY16. We expect the USD-INR pair to trade in a range of 66.70-66.95/dollar for the day."

The dollar slipped against the yen and the euro with the dollar-yen slipping below 100 with Fed officials split on hike.

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