The rupee opened lower 16 paise at 66.62/$ against US Dollar Wednesday as against the previous close of 66.46/$. The rupee opened lower 16 paise at 66.62/$ against US Dollar Wednesday as against the previous close of 66.46/$. The latest round of pessimism now emanates from 65% probability of a US rate hike in December & unwinding of stimulus by the ECB. With the 'elexir' of cheap money seeming to be withdrawn caution seems the buzzword in most global equity markets. Weaker than expected macro numbers from Brazil & lowering of global growth targets by the IMF will be the other points of concern. The Indian rupee closed higher after the Reserve Bank of India (RBI) cut its key lending rate or the repo rate by 25 basis points to a six-year low of 6.25%, from 6.5% earlier. The rupee hit a one-month high against the US dollar, while bond yields hit a fresh seven-year low today. On data front, Nikkei India Service PMI data is scheduled today. The Indian currency ended higher by 13 paise at 66.59/$. The local unit had hit a high of 66.80 and a low of 66.87. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.53 and for the Euro stood at 74.71. The RBI’s reference rate for the Yen stood at 65.70; reference rate for the Great Britain Pound (GBP) stood at 85.8675. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , SEBI Registered Company , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Jewelers Contract , Commodity market tips , call @ +91-7415033556 or fill form http://tradeindiaresearch.com/freetrial.php
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January 2017
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