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Rupee Opens At 70.02 For A Dollar

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Indian currency has opened the day with losses of 0.32% at 70.02 for a dollar after closing at 69.82 in the previous trading day. Though, the impact on the currency is not seen negative.

Rupee Opens At 70.02 For A Dollar
 

The rupee is likely to trade-rangebound and may further weaken as the US Fed minutes will boost dollar currency.

Also, as per the finance ministry official it has been confirmed that the repayment of funds taken from overseas in 2013 is the prime reason for the rupees fall-out in the past few months.

Equity markets are likely to open the day on a positive note taking cues from the global markets even as the US-China trade tensions are only to worsen and the US Fed reserve in its minutes is hinting at the probable rate hike in the September month.

The Sensex in the pre-opening trade was above 38,300 and Nifty was above 11,600 aftter Sensex closed 38285.75 or higher by 7 points (+0.02%) while Nifty gained 11570.90 or 19.15 points (+0.17%) in Tuesday's session.

Goodreturns.in

Read more about: rupee dollar fed minutes rate hike
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