Rupee opens at 68.15 per dollar ; slips 10 paise

Rupee opens at 68.15 per dollar ; slips 10 paise

The Indian rupee opened lower by 10 paise at 68.15 per dollar on Thursday against previous close of 68.05. Mohan Shenoi of Kotak Mahindra Bank said, "As expected, the FOMC has kept policy rates
unchanged. Due to adverse global financial developments, odds of a hike in March have also fallen. Number of hikes anticipated this year has fallen to 2-3 from 3-4 earlier." He further added, "The rupee is impacted more by global developments than any local factors."The dollar weakened against the euro and the yen after the Federal Reserve left interest rates unchanged.

Yuan holds steady afterstronger PBOC fixing, shares down

The yuan is barely changed Thursday. The People's Bank of China set a stronger fixing for a fifth consecutive session. The yuan was last at 6.5781 against the U.S. dollar compared with Wednesday's official close of 6.5780. The PBOC set the yuan fixing at 6.5528 compared with Wednesday's 6.5533. Shares fell with investors are still cautious. The Shanghai Composite Index was last down 0.74% to 2,715.27. Hong Kong's Hang Seng Index was last up 0.52% to 19,151.03