Indian rupee opens higher at 64.03 per dollar
The Indian rupee opened higher by 7 paise at 64.03 per dollar on Thursday versus previous close 64.10.Mohan Shenoi of Kotak Mahindra Bank said, “Rupee has been trading in a very tight range for the past few weeks which is likely to continue. USD-INR trading range for the day is 63.90-64.20.”
“Despite lower Indian GDP data and lower US 10-year treasury yields the bond market has not seen any significant movement. Increase in crude oil prices is a dampener. 6.79 GOI 2027 trading range for the DAY 6.49 to 6.53.
The dollar lost some ground after edging up against the Japanese yen after getting a boost from trump’s surprise deal with the democrats on extending the debt limit.
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