Rupee opens 9 paise lower at 67.16 per dollar

The Indian rupee has opened lower by 9 paise at 67.16 a dollar compared to 67.07 a dollar in previous session.

The Indian rupee has opened at 67.16 a dollar, lower by 9 paise compared to 67.07 a dollar in previous session. Pramit Brahmbhatt, Veracity says the rupee will be weak on safe haven buying due to the European Central Bank interest rate cut. He maintains his view that Rs 67.50/USD is a crucial level on the downside. According to him, trading range for the day will be between Rs 66.80–67.50/USD. The European Central Bank (ECB) on Thursday cut its main refinancing rate to zero from 0.05 percent and increased monthly asset buys to 80 billion euros from 60 billion euros.