Rupee opens stronger

COMMODITY TIPS | RUPEE OPENS STRONGER AT 67.04 AGAINST US DOLLAR:-

The Indian rupee opened higher by 15 paise on Thursday at 67.04 per dollar versus its previous close of 67.19/$.
The dollar droped against its peers early on Thursday, hovering near a 10-week low versus the yen, with a slide in US Treasury yields amid investor flight to safety taking a toll on the currency.
The Euro came under pressure amid concerns over the possibility of a Brexit or Trump-style shock result in France’s upcoming presidential election. Worries over elections in the Netherlands, Germany and possibly Italy, as well as the ongoing row over Greece's bailout added to concerns over political risk in the euro area.
On the economy front, RBI has kept the repo rate unchanged at 6.25% in its monetary policy review, citing inflation concerns after the first quarter of the next financial year, once the base effect vanishes. The RBI said all the six members of the monetary policy committee voted in favour of the decision.
Further, the RBI has decided to phase out weekly limit on cash withdrawal from savings accounts in two stages, starting from February 20.
The rupee ended at 67.19/$ higher by 22 paise from its previous close of 67.41/$. The currency touched a high and low of 67.34/$ and 67.51/$ respectively.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.30 and for Euro stood at 71.87 on February 8, 2016. While, the RBI’s reference rate for the Yen stood at 59.94, the reference rate for the Great Britain Pound (GBP) stood at 84.16.
  
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