Intra-day update: rupee continues its merry run against US dollar - Markets
Currency hovers at 287-288 level in inter-bank market
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Currency hovers at 287-288 level in inter-bank market
Local currency has gained 6.7% since it hit a record low of 307.1 in inter-bank market on Sept 5
The U.S. dollar index last stood at 106.20, having peaked at a 10-month high of 106.26 in the previous session, while the euro languished near Tuesday's six-month low and last bought $1.0569.
Rates markets are priced for an almost 40% risk of another Fed hike this year, against slimmer chances for another rise in Europe, and the difference has helped prop up a dollar many had bet would swiftly fall once short-term rates peaked.
Despite Bangladesh Bank Governor’s decision to not raise exchange rate before election, dollar rate hiked again