Rupee opens 4 paise down at 65.40 against dollar

The rupee opened nearly 4 paise down at 65.40 against dollar on account of buying of American currency by banks and importers.
Meanwhile, domestic equity markets opened in green following firm global cues. The 30-share BSE Sensex opened 33.33 points, or 0.11 per cent, up at 29201.01, while the 50-share NSE Nifty index opened 18.30 points, or 0.20 per cent, up at 9,048.75.
According to Angel Broking, concerns over Donald Trump’s future policies have kept markets in a cautious mood. Investors fear that Trump’s failure to repeal Obamacare may mean his pro-growth tax reform policies would hit a roadblock. “On Thursday, USDINR spot is likely to depreciate,” the brokerage house said in a research note.
The local currency on Wednesday came under selling pressure and retreated from a nearly 17-month high to end at 65.44, falling by 14 paise against dollar.
However, Nirmal Bang Commodities in a research note said, “USD-INR is expected to trade with a sideways to positive movement during the day. Trading in the expected intraday range of 65.37-65.60 is recommended.”