Rupee Marginally Strong On First Day Of Trading In 2016

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, January 1, 2016, 10:53 [IST]

The rupee was trading marginally strong on the first day of the new year, although volumes are expected to be rather thin in view of the new year.

The rupee was last trading at 66.18 against the dollar, marginally up by 2 paise in trade. The currency is expected to trade in a range through the day, as activity would be minimal.

The rupee had seen a sharp recovery on Thursday, the last day of trading for 2015. The currency might continue to trade in a range of 65-68 in 2016, depending on global volatility.

Should volatility increase in 2016, particularly in view of a China slowdown or global events, the currency could fall further.

Check currency rates here

GoodReturns.in