INSUBCONTINENT EXCLUSIVE:
close at 70.41 per US dollar on Thursday on increased selling of greenback by exporters amid easing crude oil prices
Forex traders said American currency weakened after minutes of Federal Reserve's policy meeting triggered uncertainty about future rate
At interbank foreign exchange market, rupee opened weak at 70.49 a dollar against its previous close of 70.46
The local unit moved in a range of 70.66 to 70.32, before finally ending at 70.41, showing a gain of 5 paise
The rupee had depreciated by 78 paise in previous two sessions."The US dollar slipped on Thursday in Asia after Federal Reserve indicated in
minutes of its December meeting that it was willing to hold off on rate hikes amid concerns about global growth and subdued inflation," said
upcoming political factors in domestic market
Near term rupee is expected to trade in 69.50 to 72 band," said Rushabh Maru, research analyst, Anand Rathi Shares and Stock
Private Ltd (FBIL) set reference rate for rupee/dollar at 70.5135 and for rupee/euro at 81.4920
The reference rate for rupee/British pound was fixed at 90.1656 and for rupee/100 Japanese yen at 65.40.
