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Rupee ends flat at 66.96 vs dollar; Fed meet in spotlight

Currency investors across the globe are cautiously awaiting the FOMC outcome

The failed to maintain its early strong gains and settled almost flat at 66.96 against the in a highly volatile trade ahead of a crucial meeting.

Cautious stance adopted by participants ahead of the Federal Reserve's two-day meet starting on Tuesday largely influenced trading sentiment, a dealer said.

investors across the globe are cautiously awaiting the (Federal Open Market Committee) outcome amid increasing speculations on a potential rate hike by the Federal Reserve, he added.

The opened a tad higher at 66.96 from weekend's closing value of 66.97 at the (forex) market and strengthened further to 66.86 on strong demand in early trade supported with rallying local equities.

However, home failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors throughout the day before settling at 66.96, showing a mere gain of one paisa.

It hovered in a range of 66.86 and 66.98 during the day.

The local unit had recovered by 5 paise to close at 66.97 in Friday's trade on the back of country's improvement in trade deficit data.

Meanwhile, the retreated as market participants seem to be cashing up recent strong gains ahead of the and Bank of (BoJ) meetings this week.

The got boosted on Friday after core consumer price inflation in August rose stronger than expected.

The index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.26 per cent at 95.81.

The fixed the reference rate for the at 66.8737 and euro at 74.6845.

In cross-trades, the hardened further against the to end at 87.38 from 88.20 and also rose against the euro to finish at 74.76 compared to 75.15 last Friday.

However, it remained under pressure against the Japanese and settled marginally lower at 65.74 as compared to 65.73 per 100 yens earlier.

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Business Standard
177 22
Business Standard

Rupee ends flat at 66.96 vs dollar; Fed meet in spotlight

Currency investors across the globe are cautiously awaiting the FOMC outcome

Press Trust of India  |  Mumbai 

Shutterstock
Shutterstock

The failed to maintain its early strong gains and settled almost flat at 66.96 against the in a highly volatile trade ahead of a crucial meeting.

Cautious stance adopted by participants ahead of the Federal Reserve's two-day meet starting on Tuesday largely influenced trading sentiment, a dealer said.

investors across the globe are cautiously awaiting the (Federal Open Market Committee) outcome amid increasing speculations on a potential rate hike by the Federal Reserve, he added.

The opened a tad higher at 66.96 from weekend's closing value of 66.97 at the (forex) market and strengthened further to 66.86 on strong demand in early trade supported with rallying local equities.

However, home failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors throughout the day before settling at 66.96, showing a mere gain of one paisa.

It hovered in a range of 66.86 and 66.98 during the day.

The local unit had recovered by 5 paise to close at 66.97 in Friday's trade on the back of country's improvement in trade deficit data.

Meanwhile, the retreated as market participants seem to be cashing up recent strong gains ahead of the and Bank of (BoJ) meetings this week.

The got boosted on Friday after core consumer price inflation in August rose stronger than expected.

The index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.26 per cent at 95.81.

The fixed the reference rate for the at 66.8737 and euro at 74.6845.

In cross-trades, the hardened further against the to end at 87.38 from 88.20 and also rose against the euro to finish at 74.76 compared to 75.15 last Friday.

However, it remained under pressure against the Japanese and settled marginally lower at 65.74 as compared to 65.73 per 100 yens earlier.

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Rupee ends flat at 66.96 vs dollar; Fed meet in spotlight

Currency investors across the globe are cautiously awaiting the FOMC outcome

Currency investors across the globe are cautiously awaiting the FOMC outcome
The failed to maintain its early strong gains and settled almost flat at 66.96 against the in a highly volatile trade ahead of a crucial meeting.

Cautious stance adopted by participants ahead of the Federal Reserve's two-day meet starting on Tuesday largely influenced trading sentiment, a dealer said.

investors across the globe are cautiously awaiting the (Federal Open Market Committee) outcome amid increasing speculations on a potential rate hike by the Federal Reserve, he added.

The opened a tad higher at 66.96 from weekend's closing value of 66.97 at the (forex) market and strengthened further to 66.86 on strong demand in early trade supported with rallying local equities.

However, home failed to keep momentum going and largely traded in a narrow range with positive bias in the absence of any market moving factors throughout the day before settling at 66.96, showing a mere gain of one paisa.

It hovered in a range of 66.86 and 66.98 during the day.

The local unit had recovered by 5 paise to close at 66.97 in Friday's trade on the back of country's improvement in trade deficit data.

Meanwhile, the retreated as market participants seem to be cashing up recent strong gains ahead of the and Bank of (BoJ) meetings this week.

The got boosted on Friday after core consumer price inflation in August rose stronger than expected.

The index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.26 per cent at 95.81.

The fixed the reference rate for the at 66.8737 and euro at 74.6845.

In cross-trades, the hardened further against the to end at 87.38 from 88.20 and also rose against the euro to finish at 74.76 compared to 75.15 last Friday.

However, it remained under pressure against the Japanese and settled marginally lower at 65.74 as compared to 65.73 per 100 yens earlier.
image
Business Standard
177 22

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