Rupee breaches 65/USD on bank's heavy dollar demand

The Indian rupee breached 65 per dollar mark on the back of bank's heavy dollar demand and poor market sentiments.

However, it opened at record low of 64.90 per dollar against 64.12 on Wednesday.

The dollar gained across the board, rising closer to 81.50. Conversely, the euro-dollar slipped to 1.33 levels.

Ashutosh Raina of HDFC Bank said that, "Yesterday's Fed minutes confused the markets, not giving timing on tapering. Across the board, EM currencies sold off and the sell-off in equities are also adding to the pressure. Expect the rupee to open weak in the range of 64.7-65.

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