Indian rupee slips 37 paise in opening trade

sdThe Indian rupee plunged in the early trade on Tuesday. It has opened lower by 37 paise at 65.65 per dollar versus 65.28 Friday.

 

Bhaskar Panda of HDFC Bank said, “The dollar got a boost from better than expected ISM manufacturing data as well as President Trump’s much awaited tax reforms to climb towards touching distance of 94 levels.”

“The USD-INR pair will be under pressure today as I expect the 65.25-65.50 range to prevail.””The 10-year benchmark bond yield is expected to trade within the 6.65-6.68 percent range for today,” he added.

The dollar gained against the euro and the yen as investors took a bullish view of the US economy and as the single currency was hurt by a violence-marred independence vote in Spain’s Catalonia region.

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