MUMBAI: The Indian rupee slipped 6 paise in the early trade on Thursday at 63.64 per dollar versus 63.58 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, “Global markets are witnessing a fall in gold prices as part of a broader slide in commodity prices. US Fed rate hike looks certain in 2015. However, dollar is still trading in a range against major currencies awaiting further triggers.”
“USD-INR is also trading in a range with Reserve Bank of India (RBI) presence on both sides. USD-INR is expected to trade today in a range of 63.50-63.70/dollar,” he added.
The dollar gained after its biggest fall in a month on Tuesday. Sterling too gained in response to minutes from the Bank Of England’s last meeting that suggested some policymakers support higher interest rates.
