The Indian rupee opened higher by 10 paise at 67.53 per dollar on Thursday versus previous close 67.63. Mohan Shenoi of Kotak Mahindra Bank said, “US Fed rate hike this month is certain. Market focus is now on pace of future hikes. RBI did not cut policy rates as expected resulting in strengthening of the rupee.
The USD-INR is expected to trade in a range of 67.30-67.60/dollar for the day,” he added. The euro gained slightly on the dollar as investors focused on today’s European Central Bank meeting. The dollar index weakened but is holding above the 100 mark.
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