Indian rupee opens lower at 64.35 per dollar

100-rupees-noteThe Indian rupee opened marginally lower at 64.35 per dollar on Wednesday versus 64.32 yesterday.

Pramit Brahmbhatt of Veracity has neutral stance on rupee and 64.20 can be considered as resistance with a trading range for the spot USD-INR pair seen at 64.20-64.40.

Dhawal Dalal of Edelweiss Asset Management expects some consolidation at the current level before bond prices trend up eventually and trade between 6.45-6.50 percent in the near term.

Dollar index is nearly flat against a basket of major currencies as the greenback weakened and yields lowered on dimmed prospects for US healthcare reform.Against the yen, the USD is at the lowest level in almost three weeks, while the euro is at its strongest against the dollar since May 2016.

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