Rupee opens at 66.86 per dollar, gains 16 paise : 22.09.2016

Rupee opens at 66.86 per dollar, gains 16 paise : 22.09.2016

Dollar weakened marginally across the board in particular against yen. This is positive for EM currencies. USD-INR trading range for the day seen between 66.75-67/dollar,

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The Indian rupee gained in early trade on Thursday. It has opened higher by 16 paise at 66.86 per dollar versus 67.02 Wednesday.

 "FOMC at its meeting yesterday left the Fed funds rate unchanged even while the case for hiking has strengthened. Bank of Japan has also kept its policy rate unchanged while introducing yield curve control." "Dollar weakened marginally across the board in particular against yen. This is positive for EM currencies. USD-INR trading range for the day seen between 66.75-67/dollar,"

 The US dollar extended losses against a basket of major currencies after the US Federal Reserve left monetary policy unchanged and projected a less aggressive rise of interest rates in coming years.

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